FX.co ★ Elliott wave analysis of Meta Platforms for February 21, 2023

Meta Platforms has followed the expected path higher as wave B has unfolded. We have already seen a test of 38.2% corrective target at 201. We expect to see another spike higher towards the 50% corrective target at 236 before wave B completes and wave C takes over for the next downside pressure to below the low of wave A at 88.

For the short term, we project support in the 153 - 155 area to protect the downside for the final spike higher.