FX.co ★ Elliott wave analysis of Meta Platforms for October 21, 2022

Meta Platforms continue to struggle. However, we still think that the bottom of wave A has been seen with the test of 122.55. Wave B now is in motion for a rally to at least the 38.2% corrective target at 225 and possibly even closer to the 50% corrective target seen at 255.

Short-term minor support at 126.53 is likely to protect the downside or a new test of122.55 should be expected in a possible double bottom formation.