 We welcome traders to another tick mill learning season preview with me Patrick Monamey before we jump in to today's report, I always want to adhere toмотр y acabar more pertinent to today's representations of girls A yn y tyn yn y cyflawni square, rothoedd yn oedd gan ydym ni'n blyniad ar y draed ynguchsion ddefnyddio i New York todayn. Rydym ni i, i'n gallu'r Ynwys Gweithraedd Ynwys Persiai, sef 1,88, i'r pernyddio i gael 27,87 bilion, amd yn edrych i ni'n gwneud o'r wyf yn casr o'r rwyddi'n fwyp發現i, sy'n gallu ymddangos ynghylch ysbryd periaf a beth yna 179. Meta's third quarter top line is expected to have been affected by geopolitical tensions like the Russia-Ukraine War, which reduced its monthly active users across its family of apps, and then Facebook and Instagram. Rising inflation is likely to have negatively impacted the ad spending budgets of enterprises, which might have weighed on the ad revenues of Meta in the 2B reported quarter. In the second quarter of 2022, Meta's ad revenues represented 99.2% of total revenues and were used to fund the company's reality labs initiatives, which may have taken a severe hit in the quarter. Meta's ad revenue business is facing declining growth due to ad targeting related headwinds created by the Apple iOS changes. Apple iOS changes have made ads targeting difficult, which has increased the cost of driving outcomes. Measuring these outcomes is tough, and Meta expects these factors to hurt advertising growth in the third quarter of 2022. Meta's advertisement revenues decreased 1.5% year-over-year to 28.15 billion and accounted for 99.2% of second quarter revenues. The declining revenue trend is expected to have continued in the third quarter of 2022. Meta expects a 6% headwind in foreign exchange, which reflects volatility in the market. As a result, Meta slowed down its investments in reality labs projects responsible for creating, obviously, the Metaverse. These projects were costing the company a lot of capital as revenues from its primary source have been decreasing. In the third quarter, Meta announced the launch of new features to drive user growth in its family of apps, Facebook and Instagram. Meta's new features will allow both Facebook and Instagram users to switch between the social media profiles through the same account centre, and people can view their Facebook and Instagram profiles in one place to deal with rising security concerns. Meta has also concentrated on deploying its privacy and security factors in addition to its two-factor notification, which will still apply to the new updates. Users will be updated if the new Instagram and Facebook accounts are created using their existing accounts. Meta's legal woes are still consistent, as the company was slapped with a 405 million euro fine by Ireland's data regulators for violating the European Union's General Data Protection Regulation and failing to project children's information. Moving to stock patterns around the Meta release. Meta shares have moved lower in the immediate aftermath of earnings, seven out of the 12 previous reports. On average, stocks traded down 1.2% on the first day of trading after reporting earnings. Based on the previous 12 earnings releases, Meta is more likely to trade lower one day after earnings for an average loss of 1.2%. On average, a stock has moved higher, though, 2.2% one week after earnings. From a volatility perspective, options markets are pricing in a potential 12.6% move on earnings, but the stock has actually averaged a 7.9% move in the recent quarters. There was some notable buy in 2889 contracts of the $140 call expiring this Friday. Options order flow sentiment in general, though, has been bearish. Analyst sentiment going into the company's earnings have 64.5% of coverage bullish on the stock. Meta share price has drifted down 16.2% post its prior earnings announcement, and using the last 12 quarters of the data, the actual average earnings drift is around 0.9%, so pretty negligible there. Let's take a look at the charts here and see if we can identify any near term trading opportunities in the stock. We can see, obviously, we've got this descending wedge pattern on the weekly timeframe in play. Currently, we're looking at putting in a weekly outside reversal candle. So in terms of the earnings, if we get positive earnings, I'm looking for a close through 140 to target a move up to 144 and then up to the 148 level. We do have a gap just above there coming in at 149, and I've got this 150-74 level marked on the charts because that would show a correction equal to the corrective move we saw in July. So those are some levels to keep an eye on on the upside. If we can clear this 140 hurdle, those are my targets to the upside. However, if this earnings report comes in light and the market has an adverse response to the report, then I'd be looking for any move back down through 130 to engage on the short side, looking for a break of the prior cycle lows, 122, and then we have a 127 extension to the downside coming in at 118.50, and that also coincides with the yearly S3 pivot coming in there at 118.59. Then I would be watching their potential bullish reversal patterns if we can get some momentum divergence developing to look for a counter trend move to the upside, then target a weekly trend line resistance coming in back just below 140 again. As always traders, plan the trade. Trade the plan and most importantly, manage your risk. Until next time, thanks very much.