Meta Platforms' stock has formed a golden cross, with its 50-day moving average crossing above its 200-day average. The technical signal arrives as shares have climbed since the September 8 launch of Muse, Meta's AI assistant, though investors have not identified how the company will monetize the product.
Meta's stock just crossed a technical threshold that has historically pointed higher. The 50-day average has crossed over its 200-day average, a pattern known as a golden cross, signaling the stock is in an upward trend.
According to Bluekurtic Market Insights, this is the seventh time in Meta's history that the stock has registered a golden cross, and in the previous six instances, the stock was always higher one month later.
The move follows a run-up in Meta shares tied to Muse, the company's personal AI agent. Meta introduced Muse on Sept. 8, and the company has received rave reviews for it, though investors have not identified how it will monetize the product. Muse is currently the top app on both the Apple and Google U.S. charts.
Wall Street's price targets on the stock vary. Wells Fargo on Tuesday set a $1,000 price target on Meta, one of the highest on Wall Street. By contrast, according to FactSet, the average price target sits at just under $797.
That gap leaves Meta with a bullish chart signal and a monetization question still unanswered.
Source: MarketWatch
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