Wex (WEX)'s Technical Outlook is Bright After Key Golden Cross

Core Insights - WEX Inc. has reached a significant support level and is considered a strong stock pick from a technical perspective due to a recent "golden cross" event [1] - The "golden cross" is a bullish technical chart pattern indicating a potential breakout, formed when a stock's short-term moving average surpasses its long-term moving average [2] - WEX has shown a 6.5% increase over the past four weeks, and it holds a 1 (Strong Buy) rating on the Zacks Rank, supported by a positive earnings outlook with 8 upward revisions in estimates [4] Technical Analysis - A golden cross consists of three stages: a downtrend that bottoms out, a crossover of the shorter moving average above the longer one, and continued upward momentum [3] - This pattern is contrasted with a "death cross," which indicates potential bearish momentum [3] Earnings Outlook - WEX's positive earnings outlook for the current quarter is bolstered by multiple upward revisions in estimates, with no downward revisions in the past 60 days [4] - The Zacks Consensus Estimate for WEX has also increased, reinforcing the bullish sentiment around the stock [4] Investment Consideration - Given the technical indicators and positive earnings revisions, WEX is recommended for investors' watchlists [6]