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A-Mark Precious Metals (AMRK) Just Flashed Golden Cross Signal: Do You Buy?
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After reaching an important support level, A-Mark Precious Metals, Inc. (AMRK - Free Report) could be a good stock pick from a technical perspective. AMRK 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.
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.
AMRK could be on the verge of a breakout after moving 9% higher over the last four weeks. Plus, the company is currently a #1 (Strong Buy) on the Zacks Rank.
Once investors consider AMRK's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 1 revision higher, and the Zacks Consensus Estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on AMRK for more gains in the near future.
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A-Mark Precious Metals (AMRK) Just Flashed Golden Cross Signal: Do You Buy?
After reaching an important support level, A-Mark Precious Metals, Inc. (AMRK - Free Report) could be a good stock pick from a technical perspective. AMRK 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.
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.
AMRK could be on the verge of a breakout after moving 9% higher over the last four weeks. Plus, the company is currently a #1 (Strong Buy) on the Zacks Rank.
Once investors consider AMRK's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 1 revision higher, and the Zacks Consensus Estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on AMRK for more gains in the near future.