Meta stock price consolidates below $710 as bulls prepare for possible breakout
Meta stock consolidates just under $710 neckline as technical setup hints at breakout to $740
Meta Platforms (NASDAQ: META) ended Thursday’s session slightly lower at $701.41, slipping 0.21% as the stock entered a controlled consolidation phase. The pullback comes after Meta briefly breached the neckline of a rounded cup formation near $710.
Highlights
- Meta closes at $701.41, forming a bull flag below $710 after brief neckline breakout
- Stock holds above 20-day EMA at $680.47 as key EMAs remain bullish
- Breakout above $710 could trigger move to $740–$760 if volume supports direction
Price action since then has traced a descending flag pattern, widely viewed as a continuation signal within an uptrend. The correction has remained orderly, with the stock holding above the 20-day EMA at $680.47, a key short-term support zone.
Meta price forecast (Source: TradingView)
Longer-term EMAs remain firmly bullish, with the 50 EMA positioned at $709.35 and the 100 EMA at $651.61, both of which continue trending higher. Despite Thursday’s decline, the broader structure indicates buyers are pausing, not exiting, the trend.
Technicals hint at breakout continuation
Meta's recent move resembles a textbook bull flag following a cup breakout. A strong upside move earlier in July was capped just above $710, likely triggering short-term profit-taking. However, the descending channel has remained tight, and the price has shown resilience near the lower trendline. A sustained breakout above $710 could trigger a measured move toward the $740–$760 range.
The setup gains further confidence from the positioning of Meta’s support layers. The 20-day EMA aligns closely with the bottom of the flag, while the Bull Market Support Band holds firm below the $680 level. This layered confluence of support limits downside risk in the short term and offers bulls a clean technical launchpad if market conditions allow.
Eyes on breakout as earnings season heats up
With the U.S. market set to reopen on Friday, traders will watch for a clean breakout above the flag pattern. Volume and risk appetite ahead of earnings next week will play a crucial role in determining whether the current consolidation resolves higher. A push through $710 could mark the start of the next leg toward $740 and beyond, offering a potential 5 percent upside from current levels. On the downside, a break below $680 may shift the focus toward the $650–$660 region as the next demand zone.
In our earlier analysis, we noted Meta's breakout above the cup neckline and suggested a healthy consolidation phase was likely before continuation. That projection has played out, and the current flag structure reinforces the bullish case. As long as price remains above the $680 support region, expectations for a breakout toward $740 remain valid.
