From Dow Jones & Company:

Meta Platforms Inc.’s stock soared 20.32% after a blowout earnings report, reaching levels not seen in 11 years. The stock rocketed to a record $474.99. The Relative Strength Index hit 86.48, its highest level since 2013. RSI readings above 70 suggest “overbought” conditions but may signal underlying strength. The stock achieved long-term rallies after similar RSI spikes. The latest overbought reading helped launch a long-term rally. Meta’s stock is now facing historically high overbought conditions, but the record-breaking jump could be considered more a bullish leap of faith. This happened just days after the stock closed at a record high.



Read more: Meta’s stock is the most ‘overbought’ in 11 years, but that could be a good thing