Should You Buy Allegro MicroSystems, Inc. (ALGM) After Golden Cross?

Technical Analysis - Allegro MicroSystems, Inc. (ALGM) has reached a key level of support, indicating a potential investment opportunity [1] - A "golden cross" has occurred, with ALGM's 50-day simple moving average crossing above its 200-day simple moving average, suggesting a potential bullish breakout [1] - The golden cross pattern is characterized by a short-term moving average breaking above a long-term moving average, typically indicating stronger breakouts [1] Stock Performance - ALGM shares have increased by 11.2% over the past four weeks, indicating positive momentum [3] - The company currently holds a 2 (Buy) rating on the Zacks Rank, suggesting it may be poised for further breakout [3] Earnings Outlook - There have been no earnings estimate cuts for the current quarter, with two revisions higher in the past 60 days, indicating a positive earnings outlook [3] - The Zacks Consensus Estimate for ALGM has also increased, further solidifying the bullish case for the company [3] Investment Consideration - Given the technical indicators and positive earnings estimates, ALGM should be considered for inclusion on investors' watchlists [5]