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Meta stock continues its strong performance, reaching new yearly highs earlier this week. Both US equities and tech stocks are seeing increased buying activity, thanks to a weakening US dollar and declining bond yields.
As of Friday’s pre-market hours, Meta’s stock is trading at $333.20. It looks set to end the week on a positive note for the third consecutive week after a tough October.
The stock might test the $352 level next, following a breakout above the previous high of $327.50. This positive trend is bolstered by Meta’s recent Q3 earnings report, which showed revenue of $34.15 billion, a 23% increase year-over-year.
For those holding Meta stock, it’s important to keep an eye on the $326 level. If the stock falls below this mark, the bullish outlook could be at risk.