META Follows My Near Term Corrective Scenario
by Mike Paulenoff
June 15, 2025 • 10:55 AM EDT
Last Wednesday afternoon (6/11/25), with META circling 700 after establishing a 4-month new post-April 2025 recovery rally high at 708.87, this is what we discussed about the current technical setup:
Just a heads up that my pattern work is warning me that the 52% upmove from the 4/07 low at 467.31 to today's (6/11) high at 708.87 has the right look of a completed, overextended, overbought, unconfirmed rally peak that leaves the price structure vulnerable to a correction of some magnitude. Based on my work, META is on borrowed time on the upside... Should META rollover, my optimal initial corrective support window is 664.00 to 684.30... Last is 699.37...
Fast-forward two days to late Friday afternoon (6/13/25), we see that META has pressed to a corrective low of 679.71 and closed that week at 682.55, price levels located in the upper boundary of my initial corrective window from 684.30 down to 664.00.
My pattern and momentum work remain poised for downside continuation to test the lower boundary of the pullback window at 664.00, which, if violated, will open a deeper downside pathway to the 640 area thereafter, where META will have corrected 10% of its April-June 2025 advance. My outlier downside target support window is 618-622, a correction of around 13% from where powerful buying interest resumes...
Only a climb and CLOSE above 695.70 will neutralize the currently vulnerable technical setup... META closed Friday at 682.55...
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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