The analyst suggests buying META if its price drops to the 200-week moving average at $469 or lower, indicating a bullish stance at that price level.
META's new cloud service is a positive strategic move despite being late and costly; if the price drops to $469 or below, it represents a clear buying opportunity.
$META starting a cloud service is certainly the right move for them and the announcement came just in time to hold on support in the wedge However, this will come at a cost and they are late to the game but they do have the data Will the market give them time to spend and build while margins get impacted? Right now it is too early to say But if this can drop down to the 200 WMA at $469 or lower than this is a Clear Buy.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -4.9% | -4.8% |
| 1 week | -1.6% | -1.5% |
| 1 month | -9.2% | -9.3% |
| 3 months | — | — |
| 6 months | — | — |