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This Key Big Tech Nasdaq Stock Is Breaking Out Showing Bulls In Charge

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Facebook META stock broke out to a new high yesterday, closing above its recent $600 price resistance level, after gaining 3.57%.

META is one of the largest stocks, in terms of market cap, inside the S&P 500 and Nasdaq so any rise in META can help the SPY and QQQ ETF’s go up too, which millions of people own.

It turns out that META CEO Mark Zuckerberg met with Donald Trump last week and that meeting helped to generated a bunch of stories before the opening bell about how Zuckerberg hopes to work with Donald Trump. He put out a statement saying he thought Facebook moderated things too much, suggesting he is opening the door to helping Trump on the Facebook Feed.

In a strong trending market people look for reasons to buy into upward momentum and it almost doesn’t matter what the story is, but the action shows that the bulls are in charge.

In fact the real story that makes people buy a stock more than anything is a rally day in that stock.

Two years ago no one wanted to buy stocks, as the bear market of 2022 came to an end, no people cannot stop buying them and there is no sign of an end to rally at this time.

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