Meta Platforms Inc (NASDAQ: META) is set to announce its first-quarter earnings later this week, with Wall Street's expectations centered around an EPS of $4.28 and revenues of $36.1 billion. The company's stock has seen impressive growth over the past year, surging over 130% and 39% year-to-date, as it rides the wave of artificial intelligence alongside its Magnificent 7 peers.

Ahead of the Q1 earnings report, a closer look at Meta's stock chart reveals a strongly bearish trend. The share price currently sits below its 5, 20, and 50-day exponential moving averages, indicating slight selling pressure. At $488, the stock is also positioned below its 8-day simple moving average of $494.83 and its 20-day SMA of $502.34, providing further bearish signals. Additionally, Meta's price remains below its 50-day SMA of $494.77, reinforcing the prevailing bearish sentiment. However, it is worth noting that the stock's price still surpasses its 200-day simple moving average of $369.60, offering a glimmer of bullish potential.

In terms of technical indicators, the Moving Average Convergence Divergence (MACD) stands at -0.56, suggesting a bearish momentum for the stock. On the other hand, the Relative Strength Index (RSI) hovers at 45.07, indicating proximity to the oversold zone. Though conflicting signals are present, the Bollinger Bands further support the bearish thesis by illustrating that the stock's price is trading within the lower band. Overall, current sentiment leans towards a bearish outlook for Meta's stock, as both moving averages and key oscillators align with the notion of accumulating bearish momentum.

Analyzing analyst ratings and consensus estimates, it is evident that the general sentiment surrounding Meta's stock remains positive. The consensus analyst rating currently stands at a Buy, with a price target of $459.70. Notably, recent reviews from JMP Securities, Bernstein, and Keybanc have offered price targets within the range of $550 to $590 for the stock, implying potential upside gains between 10.5% and 18.5%.

As of publication on Tuesday, Meta's shares have risen by 2.3% to reach $492.93. Investors keenly await the forthcoming Q1 earnings report, where the final verdict on Meta's financial performance will determine whether the stock can overcome its current technical bearish signals and maintain its strong growth trajectory.

Disclaimer: The above article is based on information gathered from publicly available sources and does not constitute financial advice. Investors are encouraged to conduct their own research and consult with a professional advisor before making investment decisions.