META Meta (Facebook) Daily Chart; Overbot; Negative Divergence; Weekly Chart Setting-Up with Neggie-D

Here is the META (Facebook) daily chart. It's cooked. META is about to droop lower like the droopy breasts logo. The red lines show universal negative divergence across all indicators calling a top in the daily time frame. Watch the RSI to see if it squeezes out a tiny new high tomorrow which may provide a couple more days of elevated prices but the indicators want to see a spankdown going forward in the daily time frame.

The RSI and stochastics are overbot agreeable to a retreat in prices. META rings the bell with the upper standard deviation band at 299 with a 3 hundo print today. Bingo. Old guys say bingo a lot. The upper band violation places the middle band, that is also the 20-day MA at 285 firmly on the table as well as the lower band at 270. The chart also has a rising wedge vibe (bearish pattern).

It is reasonable to expect a pullback to 260-270 going forward. Once the US stock market sh*t pile begins collapsing, stocks have a long way to fall and do not be surprised if the gap down at 150-170 is filled at some point over the next year or two. When that happens you will look like an *sshole considering that you just went leveraged long at 300.

Meta started a 'Threads' app that is supposed to rival 'Twitter', however, there has been other challengers. Comically, no one is talking about 'Truth Social' where King Donnie holds kangaroo court with his Burger King crown on his orange head throwing french fries at Jester Giuliani. Truth Social is a dud and that was supposed to be the answer to Twitter. People, companies and news folks are on Twitter and that is how news is disseminated and it is a tall ask to expect people to move to a new site. People are lazy bastards; that is one of the reasons the country is falling apart. The lazy bastards will remain at Twitter, including Keystone.

The META weekly chart was previously posted with the discussion of the "Tan-Mama" stocks (Tesla, Apple, NVIDIA, Microsoft, Amazon, Meta (Facebook), Alphabet (Google)) also known as the "Magnificent 7."

On the META weekly chart, the RSI is dead flat but trying to sneak out a slightly higher high as price makes the new high. The MACD line is still long and strong as previously highlighted so META needs another down-up (jog move) on the weekly basis to top-out.

So mixing the daily and weekly time frames together, META is set for a pullback in the daily time frame (coming days going forward) but after a move lower this week perhaps next, price will likely recover again and then top-out on the weekly basis as the month ends (anytime over the next couple weeks). This will usher in a multi-week decline probably targeting the 200-week MA support down at 237.

Bring up the 2-hour chart to see if we can pinpoint the top better. Price prints higher highs today up at the 3 hundo level, nose's are bleeding, and the indicators are all neggie d so the top is in on the hourly basis. There is some VST mojo because of the push higher with stocks into the closing bell today so that could add an hour or few of buoyancy tomorrow morning, but overall, expect META to be at a top now on both the hourly and daily basis so she should start dropping. Is META 'feeling like a dead duck' as only the musical master Ian Anderson can sing and perform?

Remember, the weekly chart has a long and strong MACD so watch that closely to determine when the top is in on the weekly basis which will be anytime this week or next. Keystone does not own META long or short but will consider entering short. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.