Evertec (EVTC) Just Flashed Golden Cross Signal: Do You Buy?

From a technical perspective, Evertec, Inc. (EVTC) is looking like an interesting pick, as it just reached a key level of support. EVTC's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.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.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.Shares of EVTC have been moving higher over the past four weeks, up 10.5%. Plus, the company is currently a #3 (Hold) on the Zacks Rank, suggesting that EVTC could be poised for a breakout.The bullish case solidifies once investors consider EVTC's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 4 revisions higher in the past 60 days. The Zacks Consensus Estimate has increased too.Investors may want to watch EVTC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Evertec, Inc. (EVTC): 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