The NASDAQ index is trading at a new all-time high, up 95 points (0.41%) at 23,117.55. The S&P 500 is also higher by 26 points (0.39%), while the Dow industrial average leads with a gain of 270 points (0.60%).
Despite the broader strength, Meta shares are lower today. On Monday, the stock fell to a low of $690.51, briefly dipping below a swing support from July near $691.65 before buyers stepped in. That rebound carried price sharply higher, with today’s early surge hitting $735.37 within the first five minutes of trade. At that point, Meta briefly broke above its falling 100-hour moving average at $734.74, but the move quickly failed.
The stock is now trading at $731.50, down -$2.00 (-0.27%).
Technically, the Monday low confirmed support at a key level, while today’s high has so far reinforced resistance at the 100-hour MA, creating a tug-of-war. If sellers can hold the line, downside pressure could build. Conversely, a sustained move above the 100-hour MA and then the 200-hour MA at $746.24 would shift momentum firmly back to the buyers and strengthen the bullish bias in line with the broader market.
For now, however, the sellers remain in play and have the short term control after the test of the moving average was a success.
