Old National Bancorp (ONB)'s Technical Outlook is Bright After Key Golden Cross

Core Viewpoint - Old National Bancorp (ONB) has reached a significant support level and is considered a good investment opportunity from a technical perspective due to the recent "golden cross" formation in its moving averages [1]. Technical Analysis - ONB's 50-day simple moving average has recently broken above its 200-day moving average, indicating a bullish breakout [1]. - A golden cross is characterized by a downtrend that bottoms out, followed by the shorter moving average crossing above the longer moving average, leading to an upward price momentum [2]. Performance Metrics - Over the past four weeks, ONB has gained 13.4%, suggesting positive momentum [3]. - The stock currently holds a 2 (Buy) rating on the Zacks Rank, indicating potential for further breakout [3]. - Earnings expectations for ONB have improved, with two upward revisions and no downward changes in estimates over the past 60 days, further supporting the bullish outlook [3]. Investment Consideration - Given the technical indicators and positive earnings estimate movements, investors are encouraged to consider adding ONB to their watchlist [5].