In today’s stock of the day, let’s focus on Meta Platforms (META), which published its earnings report yesterday after the market close. The results were mixed, but the key takeaway was disappointment on the earnings per share (EPS) front, which came in significantly lower than expected, while revenue only slightly beat estimates. The market reaction was swift — in pre-market trading today, Meta is down nearly 7%, with the stock expected to open around $702, compared to yesterday’s closing level near $750.
From a technical perspective, this decline still keeps the stock within a broadly positive structure, but the situation is becoming increasingly fragile. Around the $702 level, Meta remains above two crucial support zones, both marked clearly on the chart. These areas have served as strong demand zones in recent weeks, helping the stock maintain its uptrend structure despite volatility in the broader tech sector. As long as the price stays above these supports, buyers can retain control, and sentiment can remain cautiously optimistic.
However, should Meta close the day below these supports, the picture would shift decisively bearish. A daily close beneath these key levels would indicate that the bullish momentum has failed, likely triggering a wave of technical selling and marking the beginning of a larger correction after months of strong gains.
So, today’s session will be pivotal for Meta. All eyes will be on whether buyers can defend $702 and keep the stock above its key support structure, or whether the post-earnings selloff deepens into a technical breakdown.