Meta Platforms (META) is taking a huge hit post earnings, down over 9%. But here’s where it gets interesting, is that it sets up to open up right on a key support level going back to ’24, and has been tested three times already and each time it held.

Meta Platforms (META) crashes after reporting earnings.

Prior to today, the stock had been in a very choppy and unpredictable range going back to November of last year. But with support being tested, and if it can’t hold, you open the door to a massive topping pattern confirming, with very little support underneath. In fact, I would say there is scant support underneath price, outside of previous higher-lows, and that isn’t the kind of support that I would lean on.

Essentially, this stock is at a crossroads and how it handles this support level, will determine how this stock does going forward.

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