Meta Price Due for Pullback Despite Bullish Trend

Meta Platforms (META) is currently trading at $622.73, and despite being above its major moving averages, technical indicators are warning of a potential pullback.

The stochastic reading of 96.56 indicates extreme overbought territory, which often precedes a mean-reversion move to shake out weak longs before the next leg higher.

Whales and top traders on Binance have positioned themselves long into resistance at $628.50, indicating they expect a break above this level or are already positioned through it.