Meta Platforms has fallen 14.5% since September 28, compared with a 1.5% decline for the S&P 500, following mixed quarterly results. Revenue rose 26% to $64.6 billion, but free cash flow turned negative at $2.1 billion, while annual capital spending was raised to between $135 billion and $145 billion. The stock, trading at $643, broke through the $685 stop and remains below its 50-day moving average at $664; investors can still use $626 as their reference level. Josh Brown sees no new trading opportunity and considers the trend damaged until $664 is reclaimed. Cloudflare, meanwhile, has maintained its uptrend, trading at $326 after a 7% rebound, with a stop at $299, major support at $285 and resistance at $363.
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