 I'll come trade us to another TICMEL earnings report preview with me, Patrick Manley. Before we jump into today's report, it's important that we understand the material provided in this recording is for information purposes only and should not be considered as investment advice. Views and information or opinions expressed in this recording by me are solely mine and they are not addictive or representative of those held by TICMEL UK or TICMEL Europe Limited. Equally important, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 65% of retail investor accounts lose money when trading CFDs with TICMEL UK or TICMEL Europe Limited. So let's jump into today's report. We are looking at meta platforms, commonly known as Facebook, and we're looking for an earnings per share of $2.54 on revenue of $28.28 billion. I would say there is a whisper number on the street of a slightly weaker earnings per share coming in at around $249. In terms of what to look for in the earnings report, Facebook has enjoyed robust earnings and revenue growth during the past two years amid the COVID-19 pandemic, but now the company is facing dual crises. Growth is slowing sharply and core social networking businesses, including Facebook, and the company's new strategy of focusing growth on the metaverse is running into major challenges from regulators and some shareholders. The biggest one, a meta-shareholder, recently won regulatory approval for a third-party evaluation of the potential psychological human rights and other harms of the metaverse to users. The evaluation will be one issue that meta-shareholders vote on at the company's annual meeting and negative vote could threaten the company's new strategy. Investors will also be closely watching for how these forces will affect meta's growth when the company reports its earnings after the close today. Analysts are expecting a significant year-over-year decline in earnings and the slowest pace of revenue growth in at least three years. Investors will be focusing on a key metric, monthly active people, which measures the size of the company's user base across its entire family of products. Although the company has recently shifted its focus to the metaverse, it is primarily a social networking company that operates multiple platforms, metas social media platforms and brands including Facebook, Instagram, Messenger and WhatsApp. So, let's take a look at some of the statistical trading patterns around the earnings release. The stock has moved lower in the immediate aftermath of earnings, seven out of the 12 previous reports. On average, the stock declines by about 1.9% in the first day of trading after the earnings release. Based on the previous 12 earnings releases, Facebook is more likely to trade lower one day after earnings for an average loss of 1%. Stock has moved higher one week after earnings, seven out of the 12 previous reports. On average, the stock moves up about 1.2% one week after the release. Now let's take a look at the options market and see what implied volatility is telling us. While options traders are pricing in a 13% move on earnings, however, the stock has averaged an 8.4% move in recent quarters. From a sentiment and flow perspective, a notable buyer of 14,435 contracts of the $220 put, which is expiring on Friday May 20th, obviously options order flow at the moment is pretty bearish. Invented sentiment going into the company's earnings release is pretty low as well, 20% only expecting an earnings B. Consensus estimates are thrown into the client as I said here every year by about 23% with revenue increasing by 8.6%. Short interest has increased in the stock by 25.1% since the company's last earnings release. While the stock has drifted lower by 24.7% from its open following its prior earnings release to be 39.6% below its 200-day moving average of $304.84. So let's take a look now and see where we are from a technical perspective and where the trading opportunities may be. So we're looking at an impulsive decline here from the highs. We've got this big gap in the prior earnings release, so that informs us that we have likely seen a wave 3 extension to the downside complete. We now have a wave 4 high at $237.29, so that gives me a downside target now of a minimum of 5 equals 1 to take us down to $160.28. So I want to be looking to be on the short side. So any break here through the $177, engaged on the short side looking for that test of the $160, which would complete this initial leg to the downside from there. I've been looking to cover short positions or certainly trail stops down. As I anticipate from there, we may see a bit of a profit taking pullback. As always, traders, plan the trade, trade the plan, and most importantly, manage your risk. Until next time, thanks very much.