Meta Platforms, Inc. (FB) , the former Facebook, is due to report its latest quarterly numbers on Wednesday after the close of trading. Let's check out the charts and technical indicators to see how traders may be positioned ahead of this report.
In this daily bar chart of FB, below, we can see that prices are weak and pointed down. FB trades below the negatively sloped 50-day moving average line and below the declining 200-day line. The trading volume has been more active in the past three months and tells me that FB holders have been voting with their feet.
The daily On-Balance-Volume (OBV) is weak and tells us that sellers of FB are being more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line in sell territory.