Preferred Bank (PFBC)'s Technical Outlook is Bright After Key Golden Cross

Core Viewpoint - Preferred Bank (PFBC) is showing potential for a bullish breakout due to a recent "golden cross" in its moving averages, indicating a favorable technical setup for investors [1][2]. Technical Analysis - PFBC's 50-day simple moving average has crossed above its 200-day simple moving average, forming a "golden cross," which is a bullish signal in trading [1][2]. - A golden cross typically suggests a bullish breakout is likely, characterized by a short-term moving average surpassing a long-term moving average [2]. Market Performance - Over the past four weeks, PFBC shares have increased by 13%, indicating positive momentum [4]. - The company currently holds a 3 (Hold) rating on the Zacks Rank, suggesting it may be positioned for further gains [4]. Earnings Outlook - PFBC has experienced a positive earnings outlook, with no earnings estimates decreasing in the past two months, while there have been four upward revisions [4]. - The Zacks Consensus Estimate for PFBC has also increased, reinforcing the bullish sentiment around the stock [4][5].