Meta Platforms Inc. (META) and the rest of the tech sector have been performing better than we would have otherwise expected, considering the rise in interest rates. That tells us that underlying buying momentum is strong and likely to increase if rates dip in the next week or two.
We feel that the price target identified by Predictive Alpha is reasonable in the short term. However, because the market has been so volatile over the last two months, we recommend setting a sell order once the shares have been purchased with a limit order that is Good Till Canceled (GTC). That strategy will allow us to take advantage of any unexpected price spikes.
Set a limit order to buy Meta Platforms Inc. (META) for $489.00 or less.
META's share price was $488.12 when the signal was generated after the close on Feb. 29.
We expect META's target price of $496.11 to be reached by Mar. 28 (21 trading days from today).
Your next steps:
Set a limit order to enter the trade for $489.00 or less.
Once the initial buy order is filled, your next step is to:
Set a Good Till Canceled limit order to close the position at $496.11.
If the stock demonstrates strong bullish momentum within the first 10 days of the trade, we may recommend allowing the trade to run further and canceling the sell order. If market conditions justify a change, we will send you an alert at that time advising you of a new price target and stop loss.
We will not hold this trade any longer than Mar. 28.
Trade Notes
Now, please be aware that some stocks can be volatile — especially after a recommendation is issued.
If the stock is out of our maximum buy range, we do not recommend chasing the stock. You can use a limit order for our maximum buy price and allow the stock to settle.
We recommend checking out a few of our training videos if you have any concerns about trading. You can learn…
Timing is everything when it comes to these trades, so head to your app store now, download the free TradeSmith app, and enable push notifications… because the next great trade is right around the corner!
John Jagerson & Wade Hansen Analysts, Predictive Alpha
P.S. For any questions or concerns, check out your brand-new Frequently Asked Questions page, which you can access here. Otherwise, reach out to or contact your Customer Concierge Team at 866-385-2076 or JohnandWade@tradesmith.com Monday through Friday, 9:00 a.m. to 5:00 p.m. ET. Our dedicated team will be glad to assist you.
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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