FX.co ★ Elliott wave analysis of Meta Platforms for February 9, 2022

Meta Platforms (the former Facebook) has now reached the 218.62 target and is ready to regain some of the lost ground. A return to resistance near 306 seems reasonable, but already near 246 Meta Platforms will run in to some decent resistance, that could prove so strong that it will turn Meta Platforms around a lower again.

In the longer term, a decline closer to the 50% corrective target at 201 and possibly even lower to the 61.8% corrective target near 158 doesn't seem unlikely.