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Should You Buy Origin Bancorp (OBK) After Golden Cross?
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Origin Bancorp, Inc. (OBK - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, OBK's 50-day simple moving average broke out above its 200-day moving average; this is 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.
Golden crosses have three key stages that investors look out for. It starts with a downtrend in a stock's price that eventually bottoms out, followed by the stock's shorter moving average crossing over its longer moving average and triggering a trend reversal. The final stage is when a stock continues the upward climb to higher prices.
A golden cross contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
Shares of OBK have been moving higher over the past four weeks, up 6.3%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that OBK could be poised for a breakout.
The bullish case solidifies once investors consider OBK's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 1 revision higher in the past 60 days. The Zacks Consensus Estimate has increased too.
Investors should think about putting OBKon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.
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Should You Buy Origin Bancorp (OBK) After Golden Cross?
Origin Bancorp, Inc. (OBK - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, OBK's 50-day simple moving average broke out above its 200-day moving average; this is 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.
Golden crosses have three key stages that investors look out for. It starts with a downtrend in a stock's price that eventually bottoms out, followed by the stock's shorter moving average crossing over its longer moving average and triggering a trend reversal. The final stage is when a stock continues the upward climb to higher prices.
A golden cross contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
Shares of OBK have been moving higher over the past four weeks, up 6.3%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that OBK could be poised for a breakout.
The bullish case solidifies once investors consider OBK's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 1 revision higher in the past 60 days. The Zacks Consensus Estimate has increased too.
Investors should think about putting OBKon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.