Skeptical on META due to negative reception of new AI product Muse and perceived brand barriers preventing adoption for productivity use cases.

Happy Wednesday everybody who also called for Meta Green Day. So Meta also on the gap up list here today as that is trading higher.

let's look at that meta uh uh movement because I I saw that they had news uh they released uh a personal AI called Manis or Muse, I'm sorry. Muse is the other thing. Uh Muse.

So um I I it doesn't seem like it's being wellreceived if I'm looking at some of these headlines here. uh internal tests reportedly revealed privacy risks, security flaws, failure modes that make it unreliable, but yet Meta is uh climbing. So, I don't know that I necessarily like this.

Um it's uh it's climbing over the 500 day SMA as we speak, but I'd be I think I'd be watching for that 650 area. Uh see if we can uh climb over that. it's climbing over the 500 day SMA as we speak, but I'd be I think I'd be watching for that 650 area.

Uh see if we can uh climb over that. We are getting uh to uh the price is getting into the over uh bought territory. It's not quite there yet, but it's close. So, uh, there may be, uh, you know, a move up out of the gate, but I think we're going to run into some resistance here.

I just really don't like, uh, you know, the way that news reads with with all the the negativity, uh, right in the same headline of it being announced. So, we'll see how this uh, works out.

I I'm not a fan of of Meta. Um, I don't know how great this is going to be, but if there's already problems with this product they just released, I don't know how great that's going to be.

I don't think it's I think we uh we just wait for this to come back in.

Now, Ann Marie offering uh some some insight here. I've used Muse and it's pretty bad. And remember that actually carries some weight here. Anmarie also says, "I don't like saying bad things about stuff, but it is lacking."

And I I would Anmarie I mean anyone that's known you for longer than 5 seconds knows that you don't uh say bad things about things and people. Here's what I would say though. If it's actually lacking, I don't know that that's inherently bad.

I think that sounds like it might be accurate. So 13, you're seeing some new stories that aren't that great and Marie's firsthand experience not that great. A lot of skepticism out there about AI to begin with, but the stock's gapping up 5% here today.

So to to your point now, a couple of things here. You me I think you threw out 650 in that uh there. Um we actually do have a trend line that originates back in August of last year.

This has a spot given today's candle close to like 673. So I think as far as some of those levels go, this is probably what we're looking at.

The other thing here is that the gap today actually looks constructive on the daily chart. We were basically running into the 200 day. We were unable to get above it. Now with this piece of news, we've gapped above the 200.

We've gapped above the 20. That might give it a little bit of juice here even if this thing does come back in.

Now shout out because the other level that you mentioned there is 650 I believe. And if you take a look here, this 650ish to 664 has a little bit of a gap there on the daily chart, too.

Uh perhaps that is going to be a resistance area.

I the only thing that I'm I'm pushing back on is, you know, this move up that we're getting here, and it's approaching oversold. I mean, just look at the last several times the RSI was up at this level, like this very level that we're at right now.

We It just turned around and it came back down towards Yeah, it's a good 520.

So, I you know, we'll see what happens when this uh when the market opens. I like I said, I I get the sense that there could be a push upwards, but I think we're because we're approaching overbought.

Uh it may not be up here for too long. Maybe maybe not today, but later on throughout the rest of this week, it it fades. Uh that's would be my expectation. Um so, we'll see what happens, but 650 is currently the uh resistance area for me.

Okay. Um Lion wants to remind everybody that he loves Meta's stock, but hates Mark Zuckerberg. >> It's always easy to love a stock that's liquid.

That that's very true. That is very very true. All right. Good stuff there. Uh 13. Good stuff on Meta. We'll see how it trades here today. Uh if we take a really quick peek at an intraday chart, I do think this is kind of notable, right?

This 648 area just shy of 13650 spot. This does seem to be providing some resistance. But if this breaks and goes higher, I think 650 uh 673ish I think you can look at as your next possible turnaround points.

Meta from its open pulled beneath its VWAP. We'll see if that uh bounces at all.

Okay. And real quick there's some other stuff happening here. Meta. This is actually I actually saw a whole bunch of put sweeps come across the wire here in Meta. It looked like it was trying to bounce at the VWAP, but we're beneath it now.

Meta, excuse me, Meta real quick looked like it was going to recover that VWAP and try to go. We don't have the go part yet, but we do have the VWAP recovery. I'm still thinking 649 might be a spot that we'd want to close over here.

Uh Micron or excuse me, Micron uh beg your pard meta actually looks like that's going to try and go higher. 65193 was your high print of the day here. It looks like it might be challenging that

Meta was the other one that was moving that we talked about being on calls here. This really can't get the most of the move was in the pre-market. This thing really struggling with 650.

Now, I I would have said, didn't Meta stop political ads? Cuz that might have been a tailwind for Meta, too. I'm pretty sure they don't do political I wouldn't know. I'm not on it, but I'm pretty sure that they stopped that a while ago.

Av really disappointing for me. That meta spotting. Yeah, meta's popping.

look meta. Meta's going. Hey, let's see. Let's do a little poll here. uh for those who have or even if you didn't look at Muse by Meta right the uh the uh AI agent right agent app they launched yesterday all right uh what do you think is this going to be a game changer for meta or is this going to be a nothing burger for meta game changer or nothing burger put one for game changer two for nothing burger let's see what people think because we had a vigorous debate on this in our uh in our community last night one game changer.

Two, nothing burger or write any other comments you want. Um,

I'm on the nothing burger side.

this is my thesis for why I I didn't make a 6% profit on Meta today. um is that basically in terms of brand perception and and mind share like if people want to be productive and take advantage of AI in a productive way they're thinking they're thinking Google they're thinking chat GPT they're thinking GL cloud if people are thinking about fun and fun right fun and family or whatever um they're thinking Instagram WhatsApp Facebook right so I think that's a huge brand barrier to think like am I going to go to the meta ecosystem where I go there just to like casually chat with people to do work to do productivity work makes no sense.

I I think that's a huge huge leap to expect Meta to get people to to use this just from a brand and trust perspective. That's my take on it.

That doesn't just go with this meta. This is everything. that's exactly what I said last night for Meta I'm like when when laptop gave the not laptop when Godfather gave the idea to go long Meta I'm like okay you might be right but I personally don't believe in it so I just can't take the trade.

I need to have conviction in it. So I just didn't do the meta.

Especially with the rollouts, uh Meta's each app, uh each update they do for the social medias, Facebook, especially Instagram. It's like no one wants those features. Everyone hates it.

Yeah. But for the moment, for the day, uh the trade is the algos like it. I think it possibly could be that too with them the algos picking up and trading it uh all these plug-and plays now that people are using and uh because when I plugged it in it said this deserves a 15 to 20% rerating when I gave it the news and everything the chart and all.

often it'll come and say, "But Meta has a big brand barrier to overcome X, Y, and Z, and there should be a sentiment discount, and it's not, you know, you can't assume they're going to be successful."

It's very likely Chat PT will build that in and have some sort of commentary about that.

meta is just exploding. So the meta bowls are getting paid today. Yep. That'll be new highs there for the day. Few people in our community went long at uh 642, so they're getting paid right now. Godfather nailed that one.

Wow, look at that high a day. 642. He alerted it last night in our Discord in after hours. No, I know. But this is Howling Wolf. He got back in. Even Ping me in the chat saying it.

Wow. Look at that. It's just surging a high day here. Well, even even someone else in our Discord, I think, said that they didn't think that the uh full value of the realization uh had uh had been realized yet.