“Only 25% of Stocks Are Holding Up”
META reclaimed the 200-day SMA on positive news, yet the technical setup remains unattractive even as it outperforms weak peers.
Meta up here front and center. We are back above that 200-day simple moving average. A lot of this having to do with the fact that Meta did settle that class-action lawsuit against them that was viewed as good news.
However, I would not call this a particularly attractive chart, but it certainly is outperforming weakness that we are seeing elsewhere.