Meta is coming sharply to the upside after the latest earnings beat expectations. Notice that price has now reached the gap around the 740 area, which we have been highlighting in past updates. As you know, gaps like this can act as very strong resistance, and in this case it also represents the upper boundary of the triangle range. That suggests wave D could be trading close to a potential resistance zone. What we really like so far is that there is still one open gap on the downside from the recent earnings around 665. If that gap gets filled, it could become a very attractive support area, especially if wave E is still missing. I would be patiently watching this zone for potential new upside opportunities once this triangle and the wave four structure comes to an end, with the goal of catching wave five higher.
Highlights
• Strong upside reaction after earnings beat expectations
• Key resistance at the gap and upper triangle boundary around 740
• Open downside gap near 665 stands out as potential support
• Wave E may still be missing within the triangle
• Better upside opportunities likely after wave four completes
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