Should You Buy Vigil Neuroscience, Inc. (VIGL) After Golden Cross?

After reaching an important support level, Vigil Neuroscience, Inc. (VIGL) could be a good stock pick from a technical perspective. VIGL 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.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.This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.VIGL has rallied 186.9% over the past four weeks, and the company is a #2 (Buy) on the Zacks Rank at the moment. This combination indicates VIGL could be poised for a breakout.The bullish case only gets stronger once investors take into account VIGL's positive earnings outlook for the current quarter. There have been 5 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.Given this move in earnings estimates and the positive technical factor, investors may want to keep their eye on VIGL for more gains in the near future.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.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 Vigil Neuroscience, Inc. (VIGL): 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