• Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News
Stock

This Stock Is Trending Higher: Why You Should Watch It

by January 20, 2023
by January 20, 2023

If you’ve logged into your Facebook account recently, you may have noticed a bunch of targeted reels. No, it’s not TikTok. This just shows that Meta Platforms (META), parent company of Facebook, is rolling up its sleeves and getting aggressive in the advertising space. META has lost some of its competitive edge in the ad space, especially with the rise of larger players such as Amazon (AMZN) and Apple (AAPL), plus other short reel video platforms. But it’s still got a big player with a large user base.

META’s last earnings report was pretty dismal, sending its stock gapping lower to a level the stock hasn’t seen since 2016. The company also announced job cuts and a major slowdown in ad spend. And let’s not forget the huge—we’re talking tens of billions of dollars—investment in the metaverse, which hasn’t shown any profits yet.

These factors didn’t go down well with META investors. But since reaching a low of around $88 last November, the stock has started to show some signs of recovery (see chart below). So far, in 2023, the stock price has been up around 13%. Last year was rough for META, as it was with other large-cap growth stocks. So a recovery, even if it’s slight, can be an encouraging sign. The big question is, will the recovery sustain? If it does, it could help the other players in the same space.

CHART 1: IS META A BUY? It may be too soon to tell, but after being beaten down so badly, it is starting to show signs of recovery. Earnings are coming up, which is likely to impact the stock’s price. Add to your ChartLists and watch patiently.Chart source: StockChartsACP. For illustrative purposes only.

What Has META’s Chart Got Going For It?

The 50-day moving average (MA) is trending higher and approaching the 100-day MA. When the 50-day MA crosses above the 100-day MA, you get a golden cross, which is generally an indication of a bullish move.The relative strength index (RSI) is approaching its overbought zone (upper sub chart). Watch for it to cross above it; if it sustains that level, that might mean the rally could continue, at least for some time. META’s relative performance against the S&P 500 index is hovering around the zero line. If the RS line (lower sub chart) starts to turn up and go higher, it would be another indication of the stock’s strength.

META is expected to report earnings on February 1, 2023. It’ll be interesting to hear if there’s any mention of what ad spending is likely to be in Q1 2023. Even the slightest sign of recovery is likely to give the stock price a boost.

It’s still too early to determine if the stock is a buy but it’s worth adding to your ChartLists. The stock price could go either way depending on its earnings report. As always, tread carefully, and if you do decide to add long META positions to your portfolio, think about how much risk you’re willing to take and place your stops accordingly.

Jayanthi Gopalakrishnan

Director, Site Content

StockCharts.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Biden says ‘no regrets’ over classified document discovery handling: ‘Nothing there’
next post
US sending another $2.5 billion in military aid to Ukraine

Related Posts

What are the Equity Market’s Positive Signs?

January 31, 2023

January’s Performance: A Good Start for 2023?

January 31, 2023

Sector Spotlight: Sector Rotation Out of Defense

January 31, 2023

What are the Equity Market’s Warning Signs?

January 31, 2023

The Halftime Show: Sharing “Secret” Chaikin Lists

January 30, 2023

DP Trading Room: New Golden & Silver Cross...

January 30, 2023

Bears Are Waking Up to the Fact They’ve...

January 30, 2023

Some Classical Technical Developments Shaping Up As Volatile...

January 29, 2023

The SPY Knocks on the Door of Resistance

January 29, 2023

Ready, Set, COVER! Breakouts Are A Short Seller’s...

January 28, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent Posts

  • Vermont weighing legal protections for providers of abortion, trans procedures

    February 1, 2023
  • ‘Anti-religious bigotry’: Nebraska Dem’s amdt. would ban kids from vacation Bible schools, church youth groups

    February 1, 2023
  • Virginia bill would ban transgender athletes from women’s sports

    February 1, 2023
  • Pennsylvania Democrats endorse Philly appellate judge for state Supreme Court seat

    February 1, 2023
  • How a group of Democrats and Republicans could bypass McCarthy and lift the debt ceiling

    February 1, 2023
  • Maine Gov. Mills to give budget address on Valentine’s Day

    February 1, 2023

Editors’ Picks

  • 1

    Noem blocks South Dakota business with certain companies owned or controlled by ‘evil foreign governments’

    January 20, 2023
  • 2

    Group backing Ron DeSantis to spend $3.3M to make him the Republican nominee over Donald Trump in 2024: report

    January 19, 2023
  • 3

    New Mexico top prosecutor shifts focus to addressing child civil rights

    January 16, 2023
  • 4

    Democrat leadership leaves Adam Schiff hanging on call for intelligence assessment of Biden’s classified docs

    January 16, 2023
  • 5

    Ticketmaster’s day in Congress met with bipartisan ‘bad blood’ and more Taylor Swift puns from senators

    January 26, 2023
  • 6

    Cellular IoT Module Market Update

    January 25, 2023
  • 7

    GOP bill would stick Congress members with veterans’ health care plan to call attention to failing VA

    January 25, 2023

Categories

  • Economy (13)
  • Editor's Pick (16)
  • Investing (13)
  • Latest News (409)
  • Stock (62)

Latest News

  • The S&P 500 Leaves the 200-Day Behind

    January 28, 2023
  • Biden classified documents: Republicans react to DOJ seizing more secret materials from Wilmington home

    January 22, 2023
  • Week Ahead: Expect Markets To Trade With Positive Bias So Long As These Levels Are Defended; These Sectors To Do Well

    January 16, 2023

Investing News

  • Self-driving cars create new opportunities for terrorist attacks, says FBI Director Chris Wray

    January 19, 2023
  • SteadyOptions 2022 – Year In Review

    January 16, 2023
  • Biden says ‘no regrets’ over classified doc handling: ‘Nothing there’

    January 20, 2023
  • About Us
  • Contacts
  • Email Whitelisting
  • Privacy Policy
  • Terms and Conditions

Disclaimer: BigMoneyHall.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 BigMoneyHall.com. All Rights Reserved.

BigMoneyHall.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News
BigMoneyHall.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News

Disclaimer: BigMoneyHall.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 BigMoneyHall.com. All Rights Reserved.

Read alsox

DP Trading Room: What’s Up with These...

January 24, 2023

Has Inflation Cooled or Not?

January 21, 2023

Combining Price Structure, MACD & ADX

January 26, 2023