Facebook (FB) reports earnings on Wednesday, April 27 after the market closes. While there is much optimism around 3D virtual worlds focused on social connection with various companies and people spending large amounts of money in metaverse real estate. I get it – it’s the ‘new kid on the block’ and now with the NFT falling off it’s the new thing people continue talking about.
The real question boils down to “Are people actually going to spend the majority of their time in the metaverse?” Could this have the same impact as Farmville?
Anyways, the downside targets for FB are as follows:
170.62 – 172.80 and 151.60 – 154.00
Price has broken back through the 1597 moving average and price action makes lower lows.
In Bear Markets, good news is bad news and bad news is worse news; therefore, until the institutions are ready to stop liquidating high growth interest rate sensitive stocks.
As The Fed continues to destroy consumer demand and the job market experiences layoffs.
Keep your seat belts buckled and if you go bullish into a position; keep it small!
Chart Link: https://www.tradingview.com/x/EYlZJTPq/