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Should You Buy Heartland Financial (HTLF) After Golden Cross?

·2 min read

After reaching an important support level, Heartland Financial USA, Inc. (HTLF) could be a good stock pick from a technical perspective. HTLF recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.

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.

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.

HTLF could be on the verge of a breakout after moving 9.6% higher over the last four weeks. Plus, the company is currently a #3 (Hold) on the Zacks Rank.

Once investors consider HTLF'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 revisions higher, and the Zacks Consensus Estimate has increased as well.

Moving Average Chart for HTLF
Moving Average Chart for HTLF

Given this move in earnings estimates and the positive technical factor, investors may want to keep their eye on HTLF for more gains in the near future.


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