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MARKER THERAPEUTICS, INC. (MRKR) Now Trades Above Golden Cross: Time to Buy?
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After reaching an important support level, MARKER THERAPEUTICS, INC. (MRKR - Free Report) could be a good stock pick from a technical perspective. MRKR 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.
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 contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
MRKR has rallied 24.8% over the past four weeks, and the company is a #1 (Strong Buy) on the Zacks Rank at the moment. This combination indicates MRKR could be poised for a breakout.
Looking at MRKR's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 1 change higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
Investors should think about putting MRKRon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.
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MARKER THERAPEUTICS, INC. (MRKR) Now Trades Above Golden Cross: Time to Buy?
After reaching an important support level, MARKER THERAPEUTICS, INC. (MRKR - Free Report) could be a good stock pick from a technical perspective. MRKR 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.
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 contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
MRKR has rallied 24.8% over the past four weeks, and the company is a #1 (Strong Buy) on the Zacks Rank at the moment. This combination indicates MRKR could be poised for a breakout.
Looking at MRKR's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 1 change higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
Investors should think about putting MRKRon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.