Blue lines- bullish channel
Red lines- Bearish RSI divergence
META stock price remains in a bullish trend. Price continues making higher highs and higher lows. Price remains inside the blue upward sloping channel. Bulls remain in full control of the trend. There is no sign of a reversal, however the RSI suggests that a turn around could be very close. The RSI has provided an important warning to bulls. The bearish RSI divergence in the Daily chart suggests that the bullish momentum is weakening. The stock price made a new higher high yesterday but the RSI formed another lower high. Bulls need to protect their gains. Support by the lower channel boundary is found at $207-$208. Bulls do not want to see price break below this level.
