EverQuote (EVER) Now Trades Above Golden Cross: Time to Buy?

After reaching an important support level, EverQuote, Inc. (EVER) could be a good stock pick from a technical perspective. EVER recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, 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.Over the past four weeks, EVER has gained 9.6%. The company currently sits at a #1 (Strong Buy) on the Zacks Rank, also indicating that the stock could be poised for a breakout.Looking at EVER's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 6 changes 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 EVERon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 EverQuote, Inc. (EVER): 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