Should You Buy Ur Energy (URG) After Golden Cross?

After reaching an important support level, Ur Energy Inc (URG) could be a good stock pick from a technical perspective. URG recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.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.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 URG have been moving higher over the past four weeks, up 26.2%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that URG could be poised for a breakout.The bullish case solidifies once investors consider URG'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.Investors should think about putting URGon their watchlist given the ultra-important technical indicator and positive move in earnings estimates.#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>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 Ur Energy Inc (URG): 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