Current trend

Shares of Meta Platforms Inc., an American multinational holding company that owns a technology conglomerate and the largest social network Facebook, are adjusting at 494.00.

The publication of the financial report is scheduled for April 24: estimated revenue may decrease from 40.11 billion dollars to 36.08 billion dollars, exceeding preliminary estimates of 36.01 billion dollars. The earnings per share (EPS) forecast assumes a reduction from 5.33 dollars to 4.29 dollars, which is also slightly higher than the previous estimate of 4.24 dollars.

In anticipation of the publication of the financial report, the leading agencies began to revise their estimates. Truist Securities experts adjusted the forecast for the emitter's shares, raising the target price from 525.0 dollars to 550.0 dollars, while maintaining the rating at the "buy" level. Analysts believe that the company is actively introducing new advertising monetization opportunities based on a higher volume of impressions, which shows better results than traditional targeting methods using cookies.

On March 26, for the first time in the history of Meta Platforms Inc., dividends of 0.50 dollars were sent with a quarterly yield of 0.42%. Management noted that in the future payments are planned every quarter.

Support and resistance

On the D1 chart, the asset continues to move in an uptrend and is held just below the annual maximum of 521.00.

Technical indicators hold the buy signal, gradually weakening it as part of the correction: the fast EMAs of the Alligator indicator continue to hold above the signal line, and the AO histogram, being in the purchase zone, forms correction bars again.

Support levels: 475.00, 406.00.

Resistance levels: 511.00, 565.00.

Trading tips

If the local growth of the asset continues and the price consolidates above the resistance level of 511.00, one may open long positions with the target of 565.00 and stop-loss of 500.00. Implementation time: 7 days and more.

If the downward movement continues and the price consolidates below the support level of 475.00, one can open short positions with the target of 406.00 and stop-loss of 500.00.