Meta Platforms Stock Chart Flashes Uncertain Signals Ahead Of Q1 Earnings

Meta Platforms Inc META, will be reporting its first-quarter earnings on Wednesday. Wall Street expects $4.28 in EPS and $36.1 billion in revenues as the company reports after market hours.

Meta stock is up over 130% in the past year, over 39% YTD, riding on the artificial intelligence wave along with its Magnificent 7 peers.

Let’s look at how the stock is technically setup ahead of Q1 earnings, and how it currently maps against Wall Street estimates.

Meta Stock Technical Setup Ahead Of Q1 Earnings

Charts indicate that the current trend for Meta stock is strongly bearish. The share price is below its 5, 20, and 50-day exponential moving averages, indicating slight selling pressure.

Chart: Benzinga Pro

With Meta stock’s price at $488, below its 8-day simple moving average of $494.83 and its 20-day SMA of $502.34, both suggest a bearish signal. Similarly, the stock’s price lies below its 50-day SMA of 494.77, reinforcing the bearish sentiment.

However, it’s noteworthy that Meta stock’s price exceeds its 200-day simple moving average of $369.60, indicating a bullish signal.

Chart: Benzinga Pro

Additionally, the Moving Average Convergence Divergence (MACD) indicator stands at -0.56, suggesting a bearish momentum for the stock. The Relative Strength Index (RSI), however, at 45.07 appears to be flirting with the oversold zone which lies below 30.

Despite the conflicting signals, the Bollinger Bands reinforce the bearish technical thesis for Meta stock, with the price trading in the lower band. Overall, the current sentiment for Meta stock appears relatively bearish, with moving averages as well as oscillators pointing towards a bearish momentum built up for the stock.

Also Read: Here’s How Much You Would Have Made Owning Meta Platforms Stock In The Last 10 Years

Meta Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on Meta stock stands at a Buy with a price target of $459.70.

However, the last three analysts who reviewed the stock from April 18 onwards – JMP Securities, Bernstein, and Keybanc – have their price targets in the range of $550 to $590 on the stock. That’s an implied upside of 10.5% to 18.5% on Meta stock from these 3 analysts.

Price Action: Shares of Meta are up 2.3% to $492.93 at the time of publication Tuesday.

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Photo by DANIEL CONSTANTE on Shutterstock.