Benzinga - by MarketBeat, Benzinga Contributor.
Marketbeat's numerous tools for investors include screens and analyses of fundamental and technical factors. The tool we're looking at today is a technical screen for golden crosses. A golden cross is when a shorter-term EMA, such as a 30-day or 50-day average, crosses above a longer-term EMA. Longer-term EMAs could run from 100 to 300 days, but the crossover is what matters.
Technical analysis assumes the shorter EMA represents activity by short-term oriented traders and the more extended activity by long-term oriented traders; when the short crosses over the long, it signals a convergence of markets that can lead to accelerated share price action. A convergence of markets is when one or more technical factors signal a buy, suggesting a high degree of commitment from the market. The higher the degree of commitment, the higher the price action can move.
Allot Communications, Ltd Is Pivoting Back to Growth
Allot, Ltd (NASDAQ: ALLT)The bottom and Golden Cross aligned with recent results, which were better than expected and provided favorable guidance. The guidance isn't robust but expects flat revenue and break-even conditions in 2024, and analysts are forecasting a return to growth by year-end. Marketbeat.com tracks three analysts with reports on Allot; they rate the stock as Moderate Buy and view it as undervalued, trading below the low end of their target range.
Datasea Inc. is Growing at a Hyper-Pace
Datasea (NASDAQ: DTSS)The company is guiding for 1100% revenue growth this year, and the market expects growth to continue in the next fiscal year. No analysts have rated this stock, but the institutional activity is noteworthy. Institutions, including insiders and large shareholders, own more than 80% of the stock and have been buying it recently.
GSI Technology: An AI-Powered Golden Crossover
GSI Technology (NASDAQ: GSIT)IAC Is Turning a Corner
IAC (NASDAQ: IAC)The article "4 Golden Crosses With Double-Digit Upside Ahead" first appeared on MarketBeat.