After Golden Cross, HomeTrust Bancshares (HTBI)'s Technical Outlook is Bright
HomeTrust Bancshares, Inc. (HTBI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HTBI's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."
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.
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 contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
HTBI could be on the verge of a breakout after moving 10.6% higher over the last four weeks. Plus, the company is currently a #2 (Buy) on the Zacks Rank.
Looking at HTBI's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 1 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on HTBI for more gains in the near future.
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HomeTrust Bancshares, Inc. (HTBI) : Free Stock Analysis Report
