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Meta (FB)

Updated 31 Jan 2022

Entry level: Look for a rebound from one of the 3 potential levels. The low of Friday touched the Level 2, but was able to recoup part of the losses and finished at Level 1. Last 2 times FB’s PE ratio dropped to 21 marked the move of strong gains of 80% and 150%, in 2019 and March 2020. Not likely it can happen now in this environment, but some kind of short-term dead cat bounce at least can be expected if the market doesn’t correct further

Price target: Use 10-day MA