$Bilibili Inc.(BILI)$ From a technical perspective, Bilibili Inc. Sponsored ADR (BILI) is looking like an interesting pick, as it just reached a key level of support. BILI'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.
BILI could be on the verge of a breakout after moving 9% higher over the last four weeks. Plus, the company is currently a #2 (Buy) on the Zacks Rank.
The bullish case only gets stronger once investors take into account BILI's positive earnings outlook for the current quarter. There have been 3 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
