Should You Buy Paymentus (PAY) After Golden Cross?

Paymentus Holdings, Inc. (PAY) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PAY's 50-day simple moving average broke out above its 200-day moving average; this is 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.Golden crosses have three key stages that investors look out for. It starts with a downtrend in a stock's price that eventually bottoms out, followed by the stock's shorter moving average crossing over its longer moving average and triggering a trend reversal. The final stage is when a stock continues the upward climb 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.Shares of PAY have been moving higher over the past four weeks, up 35.7%. Plus, the company is currently a #3 (Hold) on the Zacks Rank, suggesting that PAY could be poised for a breakout.Looking at PAY's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 3 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.Investors may want to watch PAY for more gains in the near future given the company's key technical level and positive earnings estimate revisions.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.See "2nd Wave" AI stocks 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 Paymentus Holdings, Inc. (PAY): 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