After Golden Cross, Halozyme Therapeutics (HALO)'s Technical Outlook is Bright

Halozyme Therapeutics, Inc. (HALO) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HALO's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."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.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.This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.HALO could be on the verge of a breakout after moving 7.8% higher over the last four weeks. Plus, the company is currently a #3 (Hold) on the Zacks Rank.The bullish case solidifies once investors consider HALO'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.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on HALO for more gains in the near future.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Halozyme Therapeutics, Inc. (HALO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks