Not looking good for $META

Not looking good for $META


November 2022


Alex Cole

$META has been in a "NoGo" trend since August.

Price has dropped from $170 to under $90 in that time.  On 10/27, following a NoGo Trend Continuation Icon (red circle) price gapped down significantly to ultimately make new lows around $89.  On the last bar we saw price testing the resistance and failing to break above the resistance from that gap after rallying off the lows.  During the "NoGo", we saw GoNoGo Oscillator get repeatedly turned away by the zero line as momentum continues to surge in the direction of the "NoGo".  With the oscillator approaching that level again, we will watch to see if it holds as resistance.