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Financial News: Meta heads to resistance

Financial News:

Meta heads to resistance

Facebook / Meta

Traders may purchase the dip in anticipation of a comeback if prices drop below the $250 barrier level this morning.

After Meta Platforms Inc. reported its first-ever loss in users for this past quarter and the mounting threat of TikTok, the FB chart reveals a massive selloff on the platform. More than $250 billion of their market worth was wiped away, and their share price fell more than 22% from $320 to $230, where support was discovered. With an overhead resistance level of $250 and a support level of $230, it traded at $237.

(This is news, not a Whale.Tips tip)

Photo: Meta Platforms, Inc., doing business as Meta and formerly known as Facebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries.

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Content ID: 1644240855 Created Monday, February 07, 2022 1:34 PM UTC by Aaron Stipkovich, Updated Monday, February 07, 2022 2:43 PM UTC by Aaron Stipkovich.