- Summary:
- Meta Platforms (META) stock gains 1.21% amid legal challenges in India over WhatsApp privacy. Key levels to watch and what’s next for META.
Meta Platforms Inc. (NASDAQ: META) is navigating turbulent waters as it faces a legal battle over WhatsApp’s privacy policy in India. Despite these challenges, the stock has shown resilience, gaining 1.21% to close at $561.09 in the latest session. With legal hurdles and technical levels converging, investors are keen to understand what lies ahead for META.
India’s CCI Order: What’s at Stake?
Meta is preparing to appeal the recent order by India’s Competition Commission (CCI), which alleges antitrust violations tied to WhatsApp’s privacy policy updates. The decision has raised questions about data privacy and compliance, particularly in one of Meta’s largest markets.
India plays a critical role in Meta’s growth strategy, and resolving these regulatory issues will be vital to maintaining user trust and expanding its business. Analysts suggest that the outcome of this appeal could have far-reaching implications for Meta’s operations in India and its broader international strategy.
Chart Analysis: Key Levels for META Stock
The daily chart reveals Meta is trading near significant levels. Here’s a closer look:
- Resistance:
- $574.26: Immediate resistance, a break above which could signal renewed bullish momentum.
- $602.71: A major level marking October’s highs.
- Support:
- $542.96: A strong support zone providing stability during pullbacks.
- $498.96: The next safety net if selling pressure intensifies.
Broader Trends: Meta’s Resilience Amid Challenges
Despite regulatory setbacks, Meta’s long-term prospects remain robust. Its metaverse initiatives, coupled with strong revenue growth from its advertising business, continue to attract investor interest. The company’s focus on cost efficiency has also bolstered its financial performance in recent quarters.
What’s Next for META?
Meta’s next big move will likely hinge on two factors: its ability to navigate the CCI appeal and its performance around key technical levels. A break above $574.26 could reignite bullish momentum, while any downside pressure might test support at $542.96.
Investors will be closely watching both the legal proceedings and Meta’s broader business strategy as the company balances regulatory scrutiny with its ambitions in the metaverse and beyond.