$META coiling in a bullish pennant after its run — clean continuation setup.
Current: $719.84
Target: $750 by 10/23
Earnings: 10/28 after close
Here's the structure:
Trend is up. Price compressed into a pennant — that's your pause before continuation. Pennants are symmetrical triangles that form after a strong move. They're consolidation, not reversal. The breakout typically mirrors the prior leg, which lines up with the $750 call.
What confirms it:
Break above the upper trendline with volume. That's your entry. If it stalls or breaks down through the lower trendline, the pattern fails.
What invalidates it:
A breakdown below the pennant support or a failed breakout that rolls over before earnings.
Earnings on 10/28 adds event risk. If you're holding into the print, size accordingly. If not, this is a pre-earnings momentum trade with a clear target and a tight window.
Setup is there. Structure is clean. Trade it if it confirms, skip it if it doesn't.
Current: $719.84
Target: $750 by 10/23
Earnings: 10/28 after close
Here's the structure:
Trend is up. Price compressed into a pennant — that's your pause before continuation. Pennants are symmetrical triangles that form after a strong move. They're consolidation, not reversal. The breakout typically mirrors the prior leg, which lines up with the $750 call.
What confirms it:
Break above the upper trendline with volume. That's your entry. If it stalls or breaks down through the lower trendline, the pattern fails.
What invalidates it:
A breakdown below the pennant support or a failed breakout that rolls over before earnings.
Earnings on 10/28 adds event risk. If you're holding into the print, size accordingly. If not, this is a pre-earnings momentum trade with a clear target and a tight window.
Setup is there. Structure is clean. Trade it if it confirms, skip it if it doesn't.