Meta (parent of Facebook) is expected to report $1.92 a share on revenue of $27.6 billion as its quarterly earnings are due today.

Meta (parent of Facebook) is expected to report $1.92 a share on revenue of $27.6 billion as its quarterly earnings are due today. From a technical aspect, the stock’s current share price sits at $131.88. Applying the Fibonacci retracement to the chart, first resistance level sits at $134.91 (just above the 61.8% Fib retracement) followed by a major resistance level at $138.32, which is just above the 76.4% Fib retracement. In the short-term, a break above the major resistance level could see the stock hike towards the 100% Fib where the share price sits at $142.38. Towards the downside, first support level sits at $131.09 followed by a major support level at $128.23. A break below the major support level may see the share price fall towards the very lows of the year ($122-$124). Looking at the indicators, RSI reads 52 and MACD is positive, overall both are positive.