TradingKey – Meta breaks below the $700 critical line; ahead of crucial earnings report, stock price risks falling another 10%.

On October 21 Eastern Time, shares of Meta Platforms (META) continued to face downward pressure, remaining below $700 in pre-market trading at $692.33. Meta’s stock price has plummeted for several consecutive days from its mid-October high of $762.50. After losing its high-level consolidation platform, it broke decisively below the psychological $700 round-number mark yesterday.

The primary reason for Meta breaking below $700 ahead of its earnings report is the surge in U.S. Treasury yields and deleveraging in high-valuation tech stocks. In mid-October, higher-than-expected U.S. September CPI and PPI data drove…