Updated weekly chart. After last week's strong push higher, there isn't much resistance left before a retest of the 50 WMA at $630.45. Ultimately, I want to see price break and close above the resistance trendline for $Meta Platforms, Inc.(META)$  to get back into a full rally and finally resolve this long-term symmetrical triangle. The King Node is currently $750 for January.

$Meta Platforms, Inc.(META)$  Back on August 18, the chart was already pointing to a matured Zigzag correction in wave (B), with the setup ready to turn higher as long as price held above 518.21. Meta has traded higher since then, and the expectation is for a continued push toward the 632.04 – 654.38 zone in wave (C) of ((X)). Selling pressure is likely to show up in that area, keeping prices below 691.84 before any turn lower.

$Meta Platforms, Inc.(META)$  Why META still looks interesting to me. On the AI side, they have frontier models and open weights driving products used by billions of people. Glasses are taking off as a new AI device category. Ads are growing at a double-digit pace with AI helping targeting and Reels. They also have real AI scale with large compute capacity, custom chips, and an agent vision. Upside is around 30% to Street targets, with almost no sell ratings.

$Meta Platforms, Inc.(META)$ More news on Muse and the AI agents should be coming out any time now. I'd expect to hear from Mark Zuckerberg and Alexandr Wang. It's been quiet so far, but at this pace $1000 doesn't feel that far off.

$Meta Platforms, Inc.(META)$ What's driving the sudden uptick? This one just posted.

$Invesco QQQ(QQQ)$ $Meta Platforms, Inc.(META)$  $Microsoft(MSFT)$ Chip stocks are moving higher. Now we just need the rest of the market to see that heavy spenders like Meta and MSFT should benefit over the long run too. Would be nice to see the rest of the Mag 7 catch up. Let's see if the NASDAQ can put up 400 points by Friday.

$Meta Platforms, Inc.(META)$ Zuck should buy SoundHound, take their AI ordering system, and incorporate it into the metaverse with digital people taking orders. That would personalize it more. Install a metaverse application inside Home Depot and other retailers so there's a personal digital assistant guiding you through where to find things and what to buy. Grocery stores would work too. Real world applications.

$Meta Platforms, Inc.(META)$ SPX is getting close to some strong support levels. Short-term it looks bearish, but the medium-term setup still leans bullish. The $520-525 zone seems like a reasonable spot to add longs. I'm watching to see whether it can hold the $540-545 area.

$Meta Platforms, Inc.(META)$ Looking at the 6-month chart, META has recovered quickly all four times it dipped to these levels. I think we could see it above $600 within the next couple of weeks or less.

$Meta Platforms, Inc.(META)$ Added to my position and opened calls into October.

$Meta Platforms, Inc.(META)$ I was stopped out at 627.55 during that negative momentum event. It seems like momentum could be shifting positive, so I opened a new position at 587, a $40 discount. I can see the 50-day has been acting as resistance, but I think it eventually breaks through, so this feels like a reasonable place to start, in my opinion.

Looking at the $Meta Platforms, Inc.(META)$  8-hour chart, option sweepers and block buyers are leaning bullish. Heavy buying hit LEAP $650 calls, including a $7.0M sweep that's now +8.5% to ITM, and a $901.5K block on Jan 2027 $680 calls that's +13.5% to ITM. On the flip side, there are large short-dated put hedges at the $607.5 and $602.5 strikes, with sweeps of $1.4M and $870.5K. The positioning seems to follow Q2 revenue beating estimates at $47.52B, up 22% YoY. The key bull level to watch is $612.50. A solid move above it would clear the local volume shelf resistance and the overhead wicks, which could open up room for a trend expansion. The bear level sits at $524.54, marking a structural support floor and the baseline bear target. Upsi

$Meta Platforms, Inc.(META)$ With Glimmer, Meta could pull value away from other AI models. If people stop buying tokens and shift to Glimmer instead, that's a pretty big strategic move from Meta.

$Meta Platforms, Inc.(META)$ $Alphabet(GOOG)$ addiction lawsuits

$Meta Platforms, Inc.(META)$ If they end up making their own chips in-house, this could become the next trillion-dollar company and compete with OpenAI and Anthropic. $1,000 seems possible from here.

$Meta Platforms, Inc.(META)$  Light position 600c 8/21. Discipline over emotions. Not financial advice.

$Meta Platforms, Inc.(META)$ The idea seems to be about commoditizing large language models and making them broadly accessible, with the real play being the infrastructure layer that powers them.

Goldman Sachs is projecting a big swing in hyperscaler free cash flow by Q3 2029. $Amazon.com(AMZN)$  from -$8.8B to $49B, a $57.8B move. $Meta Platforms, Inc.(META)$  from $0.8B to $28B, that's +$27.2B or +3,471%. $Alphabet(GOOGL)$  from -$5.9B to $19B, a $24.9B shift. $Microsoft(MSFT)$  from $19.6B to $25B, up $5.4B or +27%. $Oracle(ORCL)$  from -$1.9B to $0B, a $1.9B swing. The idea is that today's heavy AI capex eventually turns into a compounding engine that's hard to match. The numbers going from deeply negative to strongly positive across several

$SPDR S&P 500 ETF Trust(SPY)$ META C 07AUG26 592.50. Was aiming for 100%, ended up getting over 200% instead. Not a bad way to wrap up the week.

$AST SpaceMobile, Inc.(ASTS)$ $Meta Platforms, Inc.(META)$ AST SpaceMobile shares climbed after a Meta executive disclosed that the two companies recently held a workshop exploring how WhatsApp could function over AST SpaceMobile's satellite network. Whoever locks in the contracts wins the ultimate game.