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After Golden Cross, ManTech International (MANT)'s Technical Outlook is Bright

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ManTech International Corporation (MANT - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MANT's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."

A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.

A golden cross is the opposite of a death cross, another technical event that indicates bearish price movement may be on the horizon.

Shares of MANT have been moving higher over the past four weeks, up 10.5%. Plus, the company is currently a #3 (Hold) on the Zacks Rank, suggesting that MANT could be poised for a breakout.

The bullish case only gets stronger once investors take into account MANT's positive earnings outlook for the current quarter. There have been 4 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.

Moving Average Chart for MANT

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on MANT for more gains in the near future.


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