New York, NY – Meta Platforms Inc (META) stock delivered a powerhouse performance on Monday, surging nearly 3% to decisively close above the key psychological level of $700. The strong bullish momentum has captured the attention of the market, but subtle pre-market cooling suggests traders should remain vigilant heading into the next session.
This article provides a complete breakdown of the critical data from Monday’s trading and an outlook on whether Meta stock can continue its upward climb.
Monday’s Trading Recap: A Resounding Bullish Statement
Meta stock ended the trading day on Monday, June 17, at an impressive
19.78, or 2.90%, for the session.
The day’s action showcased significant buying pressure from the start:
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Open: The stock opened at $699.33, already gapping up significantly from the previous close of $682.34.
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High: It rallied to an intraday peak of $707.15.
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Low: Support was found at $693.51, indicating buyers stepped in on the dip.
The intraday chart shows a strong opening rally, followed by healthy consolidation throughout the day, ultimately closing near its highs. This price action is a classic sign of institutional buying and strong market confidence.
Key Data for Traders: The Numbers Behind the Move
For any trader analyzing Meta stock, these metrics from the latest close are crucial for decision-making:
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Market Capitalization: At approximately $1.77 Trillion (Note: “1.77LCr” is an Indian numbering format for Lakh Crore, which converts to trillions of dollars), Meta continues to be a dominant force in the tech sector.
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P/E Ratio: Standing at 27.43, Meta’s price-to-earnings ratio is relatively moderate for a major tech company, suggesting its valuation is well-supported by its earnings.
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52-Week Range: With a range of $442.65 – $740.89, the stock is now pushing towards the upper end but still has room to run before testing its all-time high.
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Dividend Yield: A 0.30% yield, while small, is a factor that continues to attract a wider base of investors.
Outlook for Today: Will the Stock Go Up or Down?
Despite the massive rally on Monday, the pre-market data offers a hint of a pause. The stock was last seen trading at
1.12 (-0.16%).
Analysis and What to Watch:
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Slight Cool-Off, Not a Reversal: The pre-market decline is minimal and very common after a stock makes a large upward move. It likely reflects minor profit-taking rather than a significant shift in sentiment. The bullish momentum from Monday remains the dominant force.
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Key Support Level: The most important level for Meta stock to hold is $700. If it can stay above this psychological mark, it would be a very bullish signal that the recent breakout has strength. If it falls below, the next support is the day’s low of $693.51.
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Resistance Ahead: The immediate resistance is the intraday high of $707.15. A convincing break above this level could open the door for a retest of the 52-week high near $740.89 in the coming weeks.
Conclusion: Should You Invest Today?
The technical picture for Meta stock is overwhelmingly bullish, but prudence is always key after a big run-up.
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For Short-Term Traders: The momentum is on the side of the bulls. A trader might look for the stock to hold the $700 level on any opening dip. A successful defense of this level could present a new entry point for a long position, targeting the $707 high and beyond. The slight pre-market dip is not a strong signal to short the stock.
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For Long-Term Investors: Monday’s powerful move reinforces the positive long-term narrative surrounding Meta’s AI initiatives and advertising efficiency. A minor pullback would be seen as a healthy consolidation before the next leg up and would not deter an investor with a long-term horizon.
In summary, Meta stock enters the next session with powerful momentum. While a brief pause or small dip is possible, the path of least resistance appears to be upward as long as it holds the critical $700 support level.
Disclaimer: This article is for informational purposes only and is not financial advice. All trading and investment decisions should be made with the consultation of a qualified financial professional.
