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Meta's stock is the most overbought in 11 years, but that could be a good thing

There’s a common belief that “overbought” is a technical condition for a stock, but in practice it seems to be more of an ability.Meta Platforms Inc.’s stock META, +20.32% soared so much Friday after a blowout earnings report, that some technical readings have reached levels not seen in 11 years.The stock rocketed 20.9% to close at a record $474.99, to book the third-biggest gain since going public in May 2012. The only bigger rallies were 23.3% on Feb. 2, 2023 and 29.6% on July 25, 2013, which were also af ...