Lionsgate Studios Corp. (LION)'s Technical Outlook is Bright After Key Golden Cross

After reaching an important support level, Lionsgate Studios Corp. (LION) could be a good stock pick from a technical perspective. LION recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.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.There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum 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.LION could be on the verge of a breakout after moving 26.5% higher over the last four weeks. Plus, the company is currently a #2 (Buy) on the Zacks Rank.The bullish case solidifies once investors consider LION's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 1 revisions higher in the past 60 days. The Zacks Consensus Estimate has increased too.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on LION for more gains in the near future.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Lionsgate Studios Corp. (LION): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks