Meta (META) shares moved higher Tuesday after setting a record close yesterday, as investors continue to bid up the stock in the aftermath of a solid quarte🌳rly earnings report and optimism about t꧃he potential for AI-fueled growth.

Last week the Facebook and Instagram parent posted strong fourth quarter results, handily 𒀰surpassing Wall Street’s top- and bottom-line estiꦑmates. CEO Mark Zuckerburg lifted sentiment during the 澳洲幸运5官方开奖结果体彩网:earnings call when he said that the early success of 澳洲幸运5官方开奖结果体彩网:DeepSeek’s AI model had streng♛thened the🌜 company’s conviction in its own open-source AI large language model, Llama.

Meta shares have gained 20% since the start of 2025, making the stock the 澳洲幸运5官方开奖结果体彩网:top performer over that stretch among the 澳洲幸运5官方开奖结果体彩网:Magnificent Seven group of large-cap tech companies. The stock wa🌊s up 0.9% at around $704 in recent trading and on pace to close at another record high Tuesday.

Below, we take a closer look at the 澳洲幸运5官方开奖结果体彩网:technicals on Meta'🔯s chart and poinꩵt out crucial price levels worth watching out for.

Rising Wedge Breakout

Meta shares trended higher within a six-month 澳洲幸运5官方开奖结果体彩网:rising wedge before breaking out above the pattern’s upper trendline last month on above-average volume.

Moreover, the breakout has coincided with the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) moving above the 70 threshold, confirming bullish price momentum, but also cautioning 澳洲幸运5官方开奖结果体彩网:overbought conditions in the stock.

Let’s apply 澳洲幸运5官方开奖结果体彩网:technical analysis to forecast two potential bullish targets and also identify major support levels where the shares may encounter buying interest during 澳洲幸运5官方开奖结果体彩网:pullbacks.

Bullish Price Targets to Watch

Measuring Principle

To project a short-term bullish target, investors can use the 澳洲幸运5官方开奖结果体彩网:measuring principle, als𝄹o known by chart watchers as a measured move.

When applying the technique to Meta’s chart, we calculate the distance between the rising wedge’s two trendlines near their widest section and add that amount to the initial breakout point. For instance, we add $100 to $655, which forecasts a target of $755, a location where the shares could see 澳洲幸运5官方开奖结果体彩网:profit-taking.

Bars Pattern Analysis

Bars pattern analysis helps investors project a longer-term upsid🦩e target by studying prior trends to predict how a future directional move may play out.

To apply the tool, we take the stock’s trending move from January to March last year and overlay it from last month’s breakout point. This projects a target of around $935, a region on the chart sitting about 33% above current levels where investors may look to 澳洲幸运5官方开奖结果体彩网:lock in profits.

We selected this trending period as it immediately followed a breako🐼ut from an earlier rising wedge pattern on the chart, potentially setting a playbook for how a similar directional move may play out.

Major Support Levels to Monitor

The first lower level to watch during pullbacks sits around $632. This location on the chart may provide support near the rising wedge pattern’s lower trendline and the early-December and early- January peaks.

Finally, selling below this level could see Meta shares revisit lower support around the 澳洲幸运5官方开奖结果体彩网:psychological $600 level. Investors may look for buying opportunities in this region near a 澳洲幸运5官方开奖结果体彩网:horizontal line that links a range of comparable price points on the chart between October and👍 last month.🍷

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As of the date this article was written, the author does not own any of the above securities.