Opendoor (OPEN) Hits Golden Cross: Meme-Stock Mania Meets Technical Bull Signal

Opendoor Technologies Inc. OPEN is riding a wave of momentum, and the charts are backing it up. The stock recently achieved a Golden Cross, a classic bullish signal as its 50-day simple moving average (SMA) surged above its 200-day SMA, suggesting potential for further upside.

Track OPEN stock here.

Chart created using Benzinga Pro

At around $3.59, OPEN trades well above its eight, 20, 50 and even 200-day SMA, OPEN is technically flashing "bullish" on multiple indicators, including a MACD (moving average convergence/divergence) of 0.42 and an RSI (relative strength index) near 72, signaling strong bullish momentum.

Leadership Shake-Up Sparks Optimism

Fundamentals are reinforcing the technical story. In mid-August, CEO and Board Chair Carrie Wheeler resigned, with CTO and Product Officer Shrisha Radhakrishna stepping in as interim president.

Related: Opendoor CEO Steps Down: Retail Investors Celebrate ‘Power To The People’

The move aligned with calls from investors like Eric Jackson of hedge fund EMJ Capital, who had long advocated leadership changes to unlock Opendoor's potential.

Meme-Stock Energy And Retail Investor Buzz

Opendoor is also benefiting from a retail investor resurgence reminiscent of the 2021 meme-stock era. Platforms like Reddit's WallStreetBets have zeroed in on OPEN, attracted by high short interest and a low share price.

Jackson compared Opendoor's turnaround potential to Carvana Co's CVNA dramatic rebound, fueling speculative trading interest and amplifying price momentum.

Partnerships And Market Sentiment

Investor enthusiasm is further buoyed by talks of strategic partnerships with companies such as Beyond Inc BYND companies Bed, Bath & Beyond and Overstock, alongside endorsements from heavy hitters like Anthony Pompliano and Paul Tudor Jones. Despite a disappointing second quarter report and a tempered 2025 sales forecast, these catalysts have created a fertile environment for growth.

With the Golden Cross in place and retail excitement fueling fundamental optimism, Opendoor is blending meme-stock energy with real market momentum. Whether the momentum sustains depends on execution and broader sentiment, but for now, both the charts and the chatter suggest that OPEN is not just playing catch-up—it's breaking out.

Read Next:

• Perplexity Pulls A Tesla: All Talk, No Deals…Yet

Photo: Tada Images / Shutterstock.com