Meta’s 25% Rally Stalls at $690–$700 Technical Barrier
Meta shares have surged 25% since the March 30 low but closed down over 2% on Monday after ending an 11-day win streak at the $690–$700 technical barrier, which aligns with the flattening 200-day moving average and 61.8% Fibonacci retracement. Investors now eye April 29 earnings as the next catalyst, with upside targets at $738–$745 and key supports around $585–$592 and $520–$527.
1. Recent Rally and Pullback
Since the March 30 market low, Meta shares have jumped 25% before slipping more than 2% on Monday, terminating an 11-day winning streak as the stock approached its most significant resistance zone. That $690–$700 area coincides with the flattening 200-day moving average and the 61.8% Fibonacci retracement from August’s high to March’s low.
2. Immediate Resistance Levels
The $690–$700 range represents Meta’s last major technical hurdle; a sustained break above these levels would open the door to $738–$745 and potentially the August all-time high zone at $786–$796. Clearing these benchmarks would strip bears of their final lines of defense.
3. Downside Support Zones
If Meta fails to breach the $690–$700 ceiling, a pullback toward $585–$592 is likely, tapping the former resistance turned support that halted the November sell-off. A deeper drop would test the April V-bottom floor at $520–$527, widely viewed as a critical line in the sand.
4. Earnings as a Potential Catalyst
Meta’s April 29 earnings release stands as the pivotal event that could determine whether shares consolidate and rally higher or retreat to lower support levels. Investors will closely watch ad revenue trends, expense guidance and user metrics to gauge the durability of the recent rebound.