Huge support there, but on the weekly chart both the MFI and RSI are oversold so giving further credence to our risk-reward thesis. The pandemic lows from March 2020 are now firmly in sight at $137.10. Wall Street analysts have also set the bar pretty low after the last quarter. Facebook is sitting at the low post the February earnings so the stock is pretty beaten up and the sentiment is low, hence the reason for our risk-reward skew to an upside earnings surprise. Now, what is the market looking for from Facebook earnings? Earnings per share (EPS) is forecast for $2.51 while revenue is forecast at $28.2 billion. We are not saying earnings will be good or FB stock will go up but merely that another weak set of numbers will likely be met with a chorus of more of the same.īy contrast, if Meta somehow does turn things around it could see a sharp rally. That has set the bar pretty low (a record fall tends to do that) and so we feel the risk-reward is skewed to the upside. Ok, so we're now all no doubt familiar with what happened last time out for Facebook earnings. VXN chart, daily Meta (FB) stock news: An opportunity for an upside surprise That tension has been growing of late as we can see from the chart below showing Nasdaq volatility (VXN) at its highest since January 2021.Īlso read: TELL Stock News: Tellurian drops lower as broader markets sink further into despair Alphabet (GOOGL) and Microsoft (MSFT) started tech earnings on Tuesday.Īfter last evening's contrasting earnings reports from Google and Microsoft it is time for the formerly known as Facebook now-called Meta (FB) to try and reassure nervous tech investors.
Last time out saw Facebook stock suffer a record market cap fall.Meta (FB) stock is set to report earnings after the close on Wednesday.
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