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Tilly's (TLYS)'s Technical Outlook is Bright After Key Golden Cross
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From a technical perspective, Tilly's, Inc. (TLYS - Free Report) is looking like an interesting pick, as it just reached a key level of support. TLYS's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
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.
There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices.
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 TLYS have been moving higher over the past four weeks, up 27.2%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that TLYS could be poised for a breakout.
The bullish case solidifies once investors consider TLYS'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 may want to watch TLYS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Tilly's (TLYS)'s Technical Outlook is Bright After Key Golden Cross
From a technical perspective, Tilly's, Inc. (TLYS - Free Report) is looking like an interesting pick, as it just reached a key level of support. TLYS's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
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.
There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices.
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 TLYS have been moving higher over the past four weeks, up 27.2%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that TLYS could be poised for a breakout.
The bullish case solidifies once investors consider TLYS'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 may want to watch TLYS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.