In this article, we are going to go through the technical analysis of the top two unstoppable metaverse stocks that every investor should buy or at least keep on the watch for 2022.
Source – TradingView
Moving on to the very first stock, its ticker symbol FB, also known as Meta Platforms, Inc. (NASDAQ:FB) or Facebook. We all know that Facebook has pretty much been struggling over the past couple of weeks.
If you look at the stock chart, you will see that it doesn’t look great. The stock had a beautiful upper trend and it hit $384. Then it sold off but found some support and consolidated at around $324 for a while, and then came that largest drop in the company’s history.
Now, for those of you that don’t know, Facebook owns Oculus and they are heavily invested in the metaverse. Oculus is pretty much those VR glasses that allow you to be in the metaverse and really have that virtual reality.
Facebook is investing billions of dollars in the metaverse, and we anticipate that over the next couple of years, when the world finally adopts virtual reality, people are going to wish they had bought more Facebook stock, especially at these crazy lows.
Source – TradingView
Moving on to stock number two, this is an unconventional one, and its ticker symbol is SNAP, also known as Snap Inc. (NYSE:SNAP) or Snapchat.
Meta or Facebook is still 100 times the size of Snapchat by market valuation. However, Snapchat is taking a little different approach to the metaverse. Rather than focusing on the virtue of reality, Snapchat is developing augmented reality, which is going to be a little different.
From the technical analysis, SNAP has been trading in a fairly wide range of $24.32 – $41.97 in the last month, and it is currently trading near the range’s peak, which is a positive sign.
However, the long-term trend of the stock is still negative, but the short-term trend is positive; this means that traders and investors are increasingly getting bullish on the stock. And this is why we suggest you keep a close eye on this stock.