META: Best Set Up In a Long Time!Meta Platforms Inc Class ANASDAQ:METAHKCM_GlobalWhat’s changed? We’ve updated our primary count for Meta, now indicating that the initial high of the trending five-wave sequence likely formed at the start of the month. Afterward, price moved down to the Wave low during the correction. Since then, price has climbed more than 11% at its peak through the rest of August, prompting us to further lower the probability of our downward alternative scenario. Primary Scenario We primarily see META in an upward structure, with the first two waves likely completed in August. Next, price should break above resistance at $691.58 as part of the third upward wave. Alternative Scenario In our short-term alternative scenario, we allow for even more downside in the higher-level fourth-degree wave. This would mean price could fall below the primary assumed low at the $518.31 support level. We’ve reduced the probability for this from 37% to 33%. Long-Term Outlook The daily chart shows that the final upward move is likely to complete the higher-level uptrend at new all-time highs above resistance at $796.25. In our higher-level alternative scenario, however, Meta would have already finished the uptrend and would then sell off below supports at $471.67 and $383.79. The next sustainable trend reversal would be expected above $88.09 (probability: 35%).