Meta Platforms' stock formed a golden cross on October 7, when its 50-day moving average crossed above its 200-day moving average. It was the seventh such signal in the company's history.
Technical analysts often view a golden cross as a sign of a potential sustained uptrend. Historically, these signals have preceded short-term gains in Meta's stock.
The technical signal comes as the company builds momentum after launching its personal AI agent, Muse. The agent has been received favorably and is topping app charts.
Recent optimistic analyst ratings have also supported bullish sentiment. Wells Fargo set a $1,000 price target for Meta.