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Blue lines- bullish channel
Black line- RSI divergence
META share price is trading around $199. The stock price remains in a bullish trend since October of 2022 when it bottomed around $91. Since then price continues making higher highs and higher lows. The lower channel boundary provides support at $183. Bulls do not want to see price break below this support level. This will signal the end of the bullish trend since October. The RSI has provided a warning for bulls as the recent higher high in price was not followed by a higher high in the RSI. This is a sign of weakening bullish momentum. This is not a reversal signal but only a warning.
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