When we look at the Meta Platforms (NASDAQ:FB) chart, we can see its downward trend extend this week. The stock fell from $203 to $185 and attempted to consolidate but failed.
Which led to the fall into the $170 range where it attempted to form support. It is currently trading at the $175.17 range above the $170 temporary support and closest overhead resistance at the $188 range.
Meta Platforms scheduled a quarterly earnings announcement yesterday in an after-hours session. Earnings expectations were surpassed, so we could expect the price to move upwards eventually, towards the $205 level.
Today we can expect a move above the $188 closest resistance level, possibly in the $200 range. If, however, it doesn’t manage to hold on to the current level, then a move towards and below the $170 closest temporary support level can be expected.
Meta Platforms stock price chart.