Meta (META) shares were holding steady Monday as the Facebook and Instagram parent prepares to report first-quarter results after Wednesday’s closing bell.

Investors will be paying close attention to the social media giant’s ad revenue outlook, amid concerns of a broader slowdown in digital advertising spending by Chinese companies as the U.S. and China impose lofty tariffs on one another. Legal and regulatory disputes have nagged Meta, with the E.U. recently fining the tech giant for violating its Digital Markets Act and an antitrust trial getting underway in the U.S.

Coming into the week, Meta shares were down about 7% for so far in 2025, though they have outperformed their Magnificent Seven peers over the period, boosted by the company’s significant investment in AI driving advertising growth and user engagement across its suite of apps. The stock was down fractionally at around $547 in mid-afternoon trading Monday.

Below, we take a closer look at Meta’s chart and use technical analysis to identify price levels that investors may be eyeing.

Potential Double Bottom

Meta shares have forged two closely aligned troughs during April, potentially setting the stage for a double bottom, a chart pattern that indicates a bullish reversal.

More recently, the stock has undergone a pre-earnings bounce, with the price forming a doji in Friday’s trading session to signal indecision among buyers and sellers. Meanwhile, the relative strength index (RSI) points to neutral conditions, providing a reading around the 50 threshold.

 Let’s identify several important support and resistance levels on Meta’s chart.

Key Support Levels to Watch

Investors should initially keep track of the $482 level. A pullback to this area would likely attract buying interest near the prominent April troughs that form the potential double bottom pattern. It’s worth pointing out that this location also sits in the same neighborhood as the 38.2% Fibonacci retirement level when applying a grid from the February high to April low.

Selling below this key level could see the shares retreat to around $452. This area may provide support near swing lows that developed on retracements toward the 200-day moving average in July and August last year.

Important Resistance Levels to Monitor

A pre-earnings bump could trigger buying to the $588 level. Investors may view this area as a high probability location to lock in profits near a trendline that links the early-April countertrend rally with a series of corresponding trading activity on the chart stretching back to December last year.

Finally, a close above this level would confirm the double bottom pattern and potentially spark a move up to $632. Meta shares may run into overhead selling pressure in this region near multiple peaks that formed on the chart between December and March.

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As of the date this article was written, the author does not own any of the above securities.