The Charles Schwab Corporation (SCHW) Just Flashed Golden Cross Signal: Do You Buy?

Technical Analysis - The Charles Schwab Corporation (SCHW) has reached a key level of technical support, with its 50-day simple moving average crossing above its 200-day simple moving average, forming a "golden cross" [1] - A golden cross is a bullish technical chart pattern indicating a potential breakout, typically involving the 50-day and 200-day moving averages [1] - The golden cross event has three stages: price bottoming out, short-term moving average crossing above long-term moving average, and maintaining upward momentum [1] - Over the past four weeks, SCHW has gained 11.3% [1] Earnings Outlook - SCHW has a positive earnings outlook for the current quarter, with no earnings estimate revisions lower in the past two months and 9 revisions higher [2] - The Zacks Consensus Estimate for SCHW has increased, further solidifying the bullish case [2] Investment Potential - SCHW currently holds a 3 (Hold) on the Zacks Rank, indicating potential for a breakout [1] - The combination of positive earnings estimate revisions and hitting a key technical level suggests potential for further gains in the near future [2]