TransAlta (TAC) Just Flashed Golden Cross Signal: Do You Buy?

Group 1 - TransAlta Corporation (TAC) has reached a key level of support, indicated by a "golden cross" where its 50-day simple moving average has crossed above its 200-day simple moving average [1][2] - A golden cross is a bullish technical chart pattern that suggests a potential breakout, typically formed when a short-term moving average surpasses a long-term moving average [2] - The successful golden cross event consists of three stages: a price bottom, the crossover of moving averages, and the maintenance of upward momentum [3] Group 2 - Over the past four weeks, TAC's stock has increased by 13.4%, and it currently holds a 2 (Buy) rating on the Zacks Rank, indicating potential for further breakout [4] - The positive earnings outlook for TAC is supported by no downward revisions in earnings estimates over the past two months, with one revision higher and an increase in the Zacks Consensus Estimate [4] - Investors are encouraged to monitor TAC for potential gains due to its key technical level and favorable earnings estimate revisions [6]