Talks with Anthropic for $10 billion cloud deal: META support levels in focus

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Meta drops 3.35% to $604.82 today

Highlights

Meta’s Q2 2026 earnings call on July 29 will update progress on its $145 billion AI investment and cloud expansion.
Potential confirmation of a $10 billion Anthropic deal and launch of AI-enabled Ray-Ban smart glasses signal strategic diversification.
META trades under key moving averages with strong bearish momentum; price expected between $590.63–$626.13, downside probability at 74%.

Investor caution rises as earnings, AI, and cloud ambitions converge

Meta Platforms is approaching its second-quarter 2026 earnings release, scheduled after the market closes on July 29, 2026, according to Fool. This upcoming event heightens investor caution as the company prepares to update on the progress of its $145 billion AI spending plan and the potential for expansion into the cloud business, a direction reflected in recent coverage from Fxleaders. Talks with Anthropic regarding a possible $10 billion deal could further shift Meta's strategic focus, with the market awaiting confirmation—potentially at the earnings call—while new product launches such as the AI-enabled Ray-Ban smart glasses in South Korea, reported by Koreaherald, underscore Meta's ongoing diversification efforts.

Persistent bearish signals as price lingers beneath key technical thresholds

On the technical side, META trades beneath the MA-20 ($640.93) and MA-50 ($653.19) on the hourly chart, and remains below the MA-200 ($639.15) on the daily. Immediate resistance stands at the Ichimoku Kijun level of $640.01. Support is measured at $590.63. Indicator signals point to consistent selling momentum: MACD issues a Sell signal, ADX confirms a prevailing bearish environment, and Bull/Bear Power aligns with seller dominance intraday. RSI is at 29.8, with both Stochastic RSI and CCI deep in oversold territory, while the Awesome Oscillator shows a neutral reading.

Sideways bias dominates as low breakout probability tempers outlook

Looking into the next 2 to 3 trading days, the expected volatility band is $590.63 to $626.13. The probability of an upward move is relatively low at 26%, with a downward move much more likely at 74%. The baseline scenario is sideways movement within this corridor, but a bullish reversal would require a clear break above resistance at $640.01, while a bearish continuation could result in price slipping below $590.63 support.

Anton Kharitonov, expert at Traders Union, sees Meta’s setup as defensive with pressure building ahead of the earnings report. He notes relentless selling on technical charts and growing uncertainty from heavy AI spending and potential cloud expansion. Caution dominates as resistance at $640.01 remains intact and price tests key supports. "Unless META reclaims $640.01, risk remains to the downside—this is a market for patience, not premature entries."

Earlier, analysts noted that Meta’s trading outlook was mixed, with sideways consolidation dominating amid medium-term uncertainty and anticipation around its AI and cloud expansion plans. The current setup reinforces this cautious stance, with heightened bearish momentum suggesting traders should watch for a decisive move below $590.63 as a possible trigger for additional downside risk.

Source of Data: META Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.