$Meta Platforms, Inc.(META)$
After its 2012 IPO, the stock saw an initial dip but steadily climbed as the company expanded its advertising and social media dominance. META continued to grow driven by strong user growth and increased ad revenue. but took a big turn downward starting mid-2021 dropping almost 75%.
After bottoming, though, in October of 2022 the stock has been a huge winner. It has gone up more than five-fold and hit a new all-time high on July 1st of $539. The stock is close to breaking this new high, currently sitting at $533.
The stock is currently trading at an RSI of about 40 or the middle ground of the overbought/oversold range.
We think this could be a good entry point to buy the stock.
TECHNICAL ANALYSIS = BUY.
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