BZ Chart Of The Day: Is Meta About To Break Out?

Shares of Meta Platforms, Inc. META may be about to break out. That means they would move higher.

Resistance is a large concentration of sell orders gathered around the same price. Sometimes rallies end or pause when they reach a resistance level. If the price moves higher than the resistance, traders say it is a breakout. 

This could have bullish implications.

It means that the investors who created the resistance with their sell orders have left the market. They have either finished or canceled their orders.

With this large amount of supply out of the way, buyers will be forced to push the price higher if they want to complete their orders. This could force META into rally mode.

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