Meta Platforms Stock Holds Near 570.00 as Traders Watch 547.00 and 600.00

The company remains a key player in the artificial intelligence (AI) sector, having announced the launch of two new AI-enabled smart glasses models in partnership with Ray-Ban: Ray-Ban Meta Blayzer Optics and Ray-Ban Meta Scriber Optics, which will be available for pre-order in the United States at a price of $499.0. In addition, the partnership between Meta Platforms Inc. and Entergy Corp. in the energy supply of AI data centers has been extended, and under the new agreement seven additional natural gas power plants will be built to supply Hyperion AI in Louisiana. These facilities will complement previously approved capacity, bringing the total to more than 7.0 GW, of which about 5.0 GW will be directed specifically to computing workloads. The project includes the construction of approximately 386.0 km of high-capacity transmission lines and storage systems, as well as upgrades to existing regional infrastructure. Hyperion AI will become Meta Platforms Inc.’s largest data center, covering about 370.0 thousand square meters. The total capacity of the power plants financed by the corporation could reach 7.5 GW, which is more than 30.0% of Louisiana’s electricity consumption.

The first-quarter financial report may reflect a decline in revenue from $59.89 billion to $55.36 billion, compared with $42.31 billion in the same period a year earlier, while earnings per share (EPS) may fall from $8.88 to $6.63 versus $6.42, respectively. The company’s board of directors has not yet made a decision regarding quarterly dividends on Class A and Class B common shares, which will most likely remain at $0.525 per share, equivalent to a yield of 0.34%, below the sector average of 0.69%. The previous transaction took place on March 26, and the lack of indexation is negatively affecting the company’s ability to attract new investors.

Support and resistance levels

On the daily chart, the trading instrument is moving slightly above the channel support line with boundaries at 690.00-515.00.

Technical indicators are strengthening the sell signal received at the beginning of the month: the fast EMAs of the Alligator indicator are positioned slightly below the signal line, while the AO histogram is forming corrective bars in the negative zone.

Resistance levels: 600.00, 673.00.

Support levels: 547.00, 483.00.

Trading scenarios and Meta Platforms Inc. price forecast

Short positions may be opened after the price declines and consolidates below the level of 547.00, with a target at 483.00 and a stop-loss at 560.00. Expected implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above the level of 600.00, with a target at 673.00. Stop-loss - 580.00.