Based

Hope

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Meta stock price trades above the 50, and 100-day daily moving average, buyers are dominating over sellers, and the price is near key resistance.</a> </li> 
 <li> <span>2</span> <a>The year-to-date return of Meta Platforms Inc. is 140.27% while the three-month return is 10.98%</a> </li> 
 <li> <span>3</span> <a>Meta Platforms Inc. ( NASDAQ: META) stock’s 52-week price range is around $88 – $326.</a> </li> 
</ul> 
<p>Meta Platform Inc., previously known as Facebook Inc., is one of the biggest American information technology companies founded in 2004 and listed in 2012. The company has a stock price of $295.00 at press time and has about 3.74 Billion global MAUs. Meta also announced its plan to invest in Metaverse infrastructure and ecosystem.&nbsp;</p> 
<p>The company makes most of its revenues from advertising and other sources such as payment and fees, cloud services, and hardware sales. The company invested in various platforms such as Instagram, WhatsApp, CTRL-labs, and Oculus VR.&nbsp;</p> 
<p>Based on recent data, the revenue of Q2, 2023 was $32.00 Billion with a net income of 7.79 Billion. Moreover, the META stock estimated EPS for Q2’23 was 2.91, and the reported EPS was 2.98 which gave a positive surprise of 2.43%. Moreover, the forecasted EPS for the next quarter is positive at 3.56.</p> 
<p>The company is a leader in research and innovation, Artificial Intelligence, Virtual reality, and Augmented Reality. The company aims to create a social metaverse that connects people across digital and physical spaces and plans to invest around $10 Billion in it.</p> 
<p>The recent insider transactions of <a href="https://www.thecoinrepublic.com/2023/08/22/meta-stock-will-meta-platforms-stock-price-surpass-291-00/" rel="noopener noreferrer nofollow">Meta Platforms Inc.</a>, in the last three months on the same date August 15th, sold an enormous amount of META shareholding in the interactive media and services company. Susan J.Li, Nick Clegg, and Andrew Bosworth combinely dumped nearly about 20,821 shares, worth $6.4 Million.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-meta-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of META Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/2p78OkX1FGDLRc-v1GoUm4qFUoXgZ2j3c_PFLa3I_c8bpR-fvkXAiMRGcdX6QNFI44jLXHsv7TcYlqFqk0ev-wKPXYwFfxIsyE0kh3jBvVg20WCM_xoMciC_G0_-ZcsW4a6rl9z3DIdGgsaVfmDscJ0" alt="META Stock Forecast: Can (NASDAQ: META) Hope To Thrust More?"> 
  <figcaption class="wp-element-caption">
    Source: META.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>As per price action, Meta was in a bullish trend from November last year even before the start of 2023. The META price took support around $87 and was heavily bought as it was available at a discount. From the Low of $87 to the high of $324, the journey was swift and effortless, the high was reached by August 1st, 2023. Moreover, the price spent a decent amount of time on Fibonacci levels of 61.80%, 50.00%, 38.20%, and 23.60% and ascended flawlessly.</p> 
<p>As per the CMP $295.10 (at press time), the price faced some resistance and melted to the 23.60% level and retraced back upwards. Moreover, it is noticed that on every quarter report, the stock is bought regularly. As per Simply Wall St., the META stock is trading below the estimated fair value by more than 20%. META stock is trading at discounted prices below the estimated fair value of $513.24.</p> 
<p>The current stock price of META stock might achieve more, there is a possibility for the price to head toward the next resistance level and an annual high of $326.&nbsp;</p> 
<p>Conversely, if the price breaks below the $295 significant support level, it might decline toward $277.</p> 
<p>At the time of publishing, Meta Platforms Inc. (NASDAQ: META) is trading above the 50, and 100 EMA. RSI turned bullish as it took 14 SMA support and MACD narrowed on each other and a bullish cross is anticipated next.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p><a href="https://www.thecoinrepublic.com/2023/08/22/meta-stock-will-meta-platforms-stock-price-surpass-291-00/" rel="noopener noreferrer nofollow">The stock price </a>has risen above $292 to regain bullish momentum and if sustains then might potentially shatter the annual high of $326. Technical parameters also support the rise in bullish momentum. Meta Platforms Inc (NASDAQ: META) stock prices are bullish on the 1-D time frame as indicators turned bullish. The traders and investors also indicate positive and buying sentiments.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<ul> 
 <li><strong>Support levels</strong>: The nearest support levels for META price are $295 and $277.</li> 
 <li><strong>Resistance levels:</strong> The nearest resistance levels for the Meta stock price are $310 and $326.</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

META Stock Forecast: Can (NASDAQ: META) Hope To Thrust More?

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