Meta Platforms Stock Chart Flashes Uncertain Signals Ahead Of Q1 Earnings
Portfolio Pulse from Surbhi Jain
Meta Platforms Inc (NASDAQ:META) is set to report its Q1 earnings with Wall Street expecting $4.28 EPS and $36.1 billion in revenues. Despite a 130% increase in the past year and over 39% YTD, technical indicators suggest a bearish sentiment ahead of the earnings report. The stock is below its short-term moving averages and the MACD indicator suggests bearish momentum, although it remains above its 200-day SMA, indicating some bullish signals. Analyst consensus rates META as a Buy with a target of $459.70, but recent reviews suggest a higher potential upside.
April 23, 2024 | 4:16 pm
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NEUTRAL IMPACT
Meta Platforms Inc faces bearish technical indicators despite strong YTD growth and positive analyst ratings. The stock's performance ahead of Q1 earnings shows potential volatility.
The bearish technical setup, including the stock's position below its short-term moving averages and negative MACD, suggests potential short-term price pressure. However, the bullish long-term signal from being above the 200-day SMA and positive analyst ratings with higher price targets indicate mixed impacts. The upcoming earnings report could sway the stock's direction, making its short-term impact uncertain.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100