Red lines - bullish RSI divergence
Purple line- resistance trend line
META Platforms Inc stock price remains in a bearish trend as price continues trading inside the downward sloping wedge pattern. The RSI is providing bullish divergence signals the last few weeks. Price remains below the purple trend line resistance. This resistance is now at $169. If we see a break above this level, we will get a bullish signal. Our first bullish target would be close to $200-$220. Support is found at $157. A break above $169 should not be followed by a break of $157. This would cancel the bullish scenario.
