Mister Car Wash (MCW)'s Technical Outlook is Bright After Key Golden Cross

From a technical perspective, Mister Car Wash, Inc. (MCW) is looking like an interesting pick, as it just reached a key level of support. MCW'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.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.This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.MCW could be on the verge of a breakout after moving 24.5% higher over the last four weeks. Plus, the company is currently a #2 (Buy) on the Zacks Rank.Once investors consider MCW's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 6 revisions higher, and the Zacks Consensus Estimate has increased as well.Investors should think about putting MCW on their watchlist given the ultra-important technical indicator and positive move in earnings estimates.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 Mister Car Wash, Inc. (MCW): 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