On October 7, Meta Platforms’ stock formed a golden cross, with its 50-day moving average crossing above its 200-day moving average. It was the seventh such event in the company’s history. Technical analysts often view the signal as a possible sign of a sustained upward trend, and previous golden crosses have preceded short-term gains in Meta’s stock.
The technical development comes as Meta gains momentum following the launch of its personal AI agent, Muse. Muse has received favorable reception and is topping app charts. Optimistic analyst ratings have also supported bullish sentiment, including a $1,000 price target from Wells Fargo.