Bullish on META; expects breakout if levels clear due to Muse AI driving adoption among older users.

The biggest, you know, the the most valuable resource out there, uh, maybe someday more than oil. I mean, I have called, you know, compute, power, and and AI the new, you know, the new oil basically.

But there is just this insatiable demand. No one can buy enough hardware to support the load. Um, you know, we're going to talk about Meta here in a minute. Um, I love their Muse AI, especially for people that are new to agents, but they're all I mean, here's Facebook.

I mean, Facebook probably has more data centers than anybody, and they're all a week in they're struggling with capacity issues. People are getting timeouts. I mean, so many people want to use this technology, and not even the biggest of the big, Facebook, has enough compute to feed that.

Now, that being said, still love Meta. We'll come back to that. But I mean, you look at that chart. I mean, it's just beautiful the reaction to the news.

But let's move to your last one because I've been talking a lot about this name this week. We're talking about Meta. Lot of optimism around Muse. Now they've got uh new VR glasses, a whole new series of these Meta glasses, and we've got this Muse charm, the little uh I'm going to call it a gigapet or a Tamagotchi.

It's flashing me back to keeping my little digital pet alive. But how are you looking at Meta? I I know that you you love all things tech and AI. So I have to imagine that you are in the bullish camp here.

Anyway, so back to back to Muse. uh you know my love of agents uh I got busted but um you know with Meta you know we all know that the you know the primary most active user of Facebook is you know it's kind of that you know that baby boomer market it's kind of a it skews a little bit older it's a lot of people that are in that age bracket that uh maybe haven't heard about these things and you know also we had another Wall Street Journal hit piece again today about you AI is going to kill us all and all of that.

So, I think a lot of the of the Facebook demographic has has has seen a lot of this fear around AI and and has maybe avoided it. Um, I've actually talked with some traders that are kind of in that age bracket.

They weren't using AI at all and I'm like, you need to try it out. So, what's great about Facebook is, you know, I think that they will really have a breakthrough with a lot of those people that have been resistant to AI or possibly scared of it because obviously it's Facebook.

I'm sure you're going to get a little promo about Muse about a hundred times a day. And if you're going to, you know, dabble with something over maybe an anthropic or a chat GPT, which are obviously the biggest names out there, but maybe you've avoided those and now you dip your toe in.

You find out how amazing these a agents are and hence the big breakout on Facebook. Now, kind of struggling here on that one year, one day chart, but if we can clear these levels, I think it's off to the races from there.

So, that being said, really, really love uh the Facebook 800 calls uh on this one. Uh as long, especially if it can trade here, 730, 750 for a while. Love those 800 calls.

All right, so looking at an outright buy of the 800 right now. We're at the top end of that 730 750 range, right north of 750. Now Rick, you can see some of that optimism in the market that's been reflected lately with this very steep channel that we have here on the chart, but take us through what you're seeing in the breakdown.

A surprisingly volatile chart for such a big name here and some of the areas that caught my eye. First of all, all the way back here, our gap that we formed matches up with these old highs and that was around where we hit a pause after that very sharp push to the upside that we saw.

Now it's becoming the low point. So once again, the old highs can become the lows going down the road. We topped out so far at 779.82. In terms of further downside areas to watch, I mean, given that we had this extreme surge with our our big green candle the other day, these highs that we repeated roughly around 682 stand out as the next level to watch.

But as you said, a very steep, very sharp upward sloping channel type shape remains in play for now. So again today to to look at our candles. A harami candle is what's forming so far.

Again caveat. It's still pretty early in the trading day. A lot could change, but that same kind of behavior is suggestive of of a potential stall in momentum here or a slowdown.

Candle patterns, you know, they're they're kind of a fuzzier thing, too. But it's I just try to point out anything I see that traders might be interested in. 5day EMA 74273 is where our blue weekly exponential moving average comes in right here.

So, kind of in the middle of that channel area to watch out for. RSI still overbought, but on the threshold of crossing back below not only our trend line, but also out of that overbought area here.

So, be on the lookout if that bullish or bearish signal does uh get confirmed as we head into the close. Volume profile shows here 710 to 724 is the most important node close to our current breakout levels here. Point of control down here near 660.

All right. All right. And right now again, we are at 75060 for Meta today. Uh having a down day, but after several strong days of trading this week, uh just in the last 5 days, we're up more than 12%.