Meta Platforms is trending higher as short interest retreats and a long-term technical indicator suggests a potential 9.8% upside, positioning the stock for a recovery toward its record highs.
Meta is trading above and within 3% of its 40-month moving average, a setup that historically led to higher prices three months later 100% of the time, while short interest has retreated.
Meta Platforms stock climbs 0.7% to $677.94, marking a fifth consecutive daily gain as the tech giant recovers above its year-to-date breakeven level. Analysts point to a rare technical setup involving the 40-month moving average, which has historically preceded significant gains over the following three-month period.
Meta is trading above and within 3% of its 40-month moving average, a setup that has historically led to an average 9.8% gain over the following three months.