Blue lines- bullish channel
Black line- bearish RSI divergence
META stock price continues to trade in a bullish trend inside the upward sloping channel. Price is making new higher highs around $211. So far price continues to respect the boundaries of the bullish channel it is in. The RSI is providing new bearish divergence signals. Support by the channel is at $199.80. If the bearish RSI divergence is combined with a break below the $199,80 level (exit out of the bullish channel) then we will get our first reversal signal. Until then bulls remain in control of the trend.
