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Should You Buy Ur Energy (URG) After Golden Cross?
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After reaching an important support level, Ur Energy Inc (URG - Free Report) could be a good stock pick from a technical perspective. URG recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.
Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves 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 URG have been moving higher over the past four weeks, up 26.2%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that URG could be poised for a breakout.
The bullish case solidifies once investors consider URG'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 URGon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.
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Should You Buy Ur Energy (URG) After Golden Cross?
After reaching an important support level, Ur Energy Inc (URG - Free Report) could be a good stock pick from a technical perspective. URG recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.
Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves 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 URG have been moving higher over the past four weeks, up 26.2%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that URG could be poised for a breakout.
The bullish case solidifies once investors consider URG'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 URGon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.