Porch Group, Inc. (PRCH)'s Technical Outlook is Bright After Key Golden Cross

After reaching an important support level, Porch Group, Inc. (PRCH) could be a good stock pick from a technical perspective. PRCH 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.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.PRCH could be on the verge of a breakout after moving 104.3% higher over the last four weeks. Plus, the company is currently a #3 (Hold) on the Zacks Rank.The bullish case only gets stronger once investors take into account PRCH's positive earnings outlook for the current quarter. There have been 2 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.Investors may want to watch PRCH for more gains in the near future given the company's key technical level and positive earnings estimate revisions.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 Porch Group, Inc. (PRCH): 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