Meta Stock: WhatsApp Ads & Key Levels to Watch
Meta Platforms (META) stock surged after the announcement of WhatsApp ads, promising expanded revenue for the social media giant. shares closed near $702, reflecting nearly a 3% increase, as the company plans a global rollout of new advertising features including channel subscriptions and promoted channels, fueling investor optimism. AI-driven ad revenue and AI expansion plans are also contributing to the positive outlook. The stock faces key levels: potential climbs towards $741 and a target of $865, based on chart analysis – but also a support level to watch at $635. News Directory 3 provides further market insights on Meta’s performance. Discover what’s next …
Meta Platforms (META) Stock analysis: Key Levels and Targets
Meta Platforms (META) shares experienced a boost after the company announced it would introduce paid advertising to WhatsApp,expanding revenue opportunities. The stock closed near $702 Monday, a nearly 3% increase.
Meta expects to roll out several advertising features globally in the coming months, including channel subscriptions, promoted channels, and ads to its WhatsApp Updates tab, which it says attracts about 1.5 billion daily users.
Meta shares have gained 20% as the start of the year and are just 5% below their record high set in mid-February. The stock has impressed investors with strong AI-driven ad revenue growth and plans to substantially expand its AI capacity.
Scale AI said last week that Meta made a “notable new investment” in the company, following reports that CEO Mark Zuckerberg has been frustrated with the company’s AI progress.
After reclaiming its 50- and 200-day moving averages,Meta shares consolidated within a pennant before breaking out earlier this month. The relative strength index (RSI) confirms bullish price momentum, sitting below the overbought threshold.
Though, the stock’s rally from its April low has occurred with declining trading volume, suggesting institutional investors remain on the sidelines.
If the shares continue climbing,the stock could initially climb toward $741,an area that would likely attract significant attention near the all-time high (ATH).
Applying a bars pattern tool to Meta’s chart projects a target of around $865 if a continuation move plays out, implying 23% upside from Monday’s closing price.
The first key support level to watch sits around $635, just below the pennant pattern’s breakout area. The shares may attract buying interest in this location near a series of peaks that formed on the chart between December and March.
A close below $635 could see Meta shares revisit lower support near $603. Investors may seek entry points in this region near the moving averages and a horizontal line that connects a range of corresponding trading activity stretching back to last October.