Meta: Slipped LowerMeta Platforms Inc Class ANASDAQ:METAHKCM_GlobalMeta recently came under significant downward pressure and declined sharply. Since the second half of last week, however, the price has managed to stabilize somewhat, maintaining a clear distance from the important support at $518.31. Initial attempts to move higher have also started to emerge again. Our primary view is that META is in the early stages of a new higher-degree upward movement. The first impulse should carry the stock toward the resistance at $796.25 before an initial correction takes it back down toward the lower resistance at $691.58. Under our alternative scenario, we would allow the higher-degree wave of the fourth degree more room to the downside. In that case, the stock would undercut the primary low assumed near the support at $518.31. We assign this scenario a probability of 37%.