Meta Platforms (META) gaps down

Question: Please provide support and resistance levels for META (FaceBook); possible entry points to build a position for future upside.

Meta Platforms (META): Post-earnings gap lower targets low 600s

META gapped sharply lower after earnings, confirming a breakdown from a July–October head and shoulders (H&S) top. The H&S top neckline offers resistance near 690-692, with the breakdown valid below that level. However, today's high-volume downside gap from 672.00 to 742.51 reinforces bearish momentum and creates a significant overhead resistance zone on any rally attempts.

The big gap lower and H&S top breakdown suggest downside risk to 638 (the 50% retracement of the late April–mid August rally) and 621–611 (weekly upside price gap from mid-May). If META moves below these supports, we would not rule out a deeper decline toward 600 (the 61.8% retracement) and 590 (H&S top projection).

Chart 1: Meta Platforms (META) (top) and relative to the S&P 500 (bottom)

Chart 2: Meta Platforms (META) (top) and volume (bottom)