Automatic wave scan: as of 6 Nov 2026, the automatic daily count for Meta is Wave 5 down with a bearish bias. The count stays valid while price holds 771.27.
Current Meta wave count
Automatic wave scan Updated daily from the latest daily close (4 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 612.43 on 11 Aug 2026. Next levels to watch are 596.66 and 576.03. The count fails on a daily close above 771.27.
Key levels
| Type | Levels |
|---|---|
| Resistance | 771.27 · 711.68 |
| Support | 537.27 · 612.43 |
| Invalidation | 771.27 |
What is Meta?
Meta was founded as Facebook in 2004 by Mark Zuckerberg and fellow students and is based in Menlo Park, California. It renamed itself Meta Platforms in October 2021.
Its Reality Labs unit, which builds virtual and augmented reality products, has lost large amounts of money. Its family of apps produces strong profits from advertising.
What moves the Meta price?
- Advertising revenue: Ad prices and user engagement drive results.
- AI investment: Spending on AI models and data centers is very large.
- Reality Labs losses: The size of these losses affects profit.
- Regulation: Privacy and competition rules in the US and EU are risks.
- User growth: Daily active users across apps are tracked each quarter.
How Meta moves in Elliott Wave terms
Meta's 2021 to 2022 fall of more than 75 percent and the strong recovery that followed are a clear example of a deep correction followed by a new impulse. Its waves are often sharp around earnings.
Large gaps after results are common, so wave counts should account for them.
Tips for counting Meta waves
Watch capital spending plans in earnings. Quarterly earnings reports often start or end a wave. Price gaps after results can skip over levels, so place stops with gaps in mind.
Meta key facts
Meta Elliott Wave FAQ
When did Facebook become Meta?
The company changed its name to Meta Platforms in October 2021.
How does Meta make money?
Almost all revenue comes from ads on Facebook, Instagram and its other apps.
What is Reality Labs?
Meta's unit for virtual and augmented reality products, such as Quest headsets.
Sources and further reading
- Meta Platforms filings (10-K and 10-Q) (U.S. Securities and Exchange Commission)
- Meta Investor Relations (Meta Platforms)
- Meta Platforms (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
