Shares of Meta Platforms Inc. have been testing their 200-day moving average and attempting to break above the $600 level after experiencing four straight weeks of declines. The stock has been under scrutiny as it approached key technical support levels, with investors and traders closely monitoring its performance. Recent trading activity showed Meta's stock bouncing back from its 200-day moving average, with some traders reporting profits on call options as the stock moved 2% above $595. The stock's performance has been a focal point for market analysts, who noted a potential reversal pattern after a significant pullback. Traders have been active around the $590-585 range, with a warning that a break below $577 could be detrimental. Analysts have observed that Meta's stock has been one of the better performers among the 'Mag 7' group of technology stocks, with a notable recovery over the 200-day moving average. The stock's movement above its short-term bearish trend line, as well as its position above the 40-week moving average, the 8-day moving average, and the 100-day moving average, have been highlighted. The next area to watch is near $622, which is an extension level. Some traders reported gains of 1% profit, huge profits, 50% on calls, and an 82% gain on $610C options, while a roll-up to $612C options failed.