SiteOne Landscape (SITE)'s Technical Outlook is Bright After Key Golden Cross

Core Viewpoint - SiteOne Landscape Supply, Inc. (SITE) is showing potential for a bullish breakout as it has reached a key support level and experienced a "golden cross" in its moving averages [1][2]. Technical Analysis - A golden cross occurs when a short-term moving average, such as the 50-day, crosses above a longer-term moving average, like the 200-day, indicating a potential bullish trend [2]. - The golden cross consists of three stages: a downtrend that bottoms out, the crossover of moving averages, and an upward price movement [3]. Stock Performance - SITE's shares have increased by 10.9% over the past four weeks, indicating positive momentum [4]. - The company holds a 2 (Buy) rating on the Zacks Rank, suggesting it may be positioned for further gains [4]. Earnings Outlook - The earnings outlook for SITE is positive, with no downward revisions in earnings estimates over the past two months and three upward revisions, leading to an increase in the Zacks Consensus Estimate [4][5]. - Given the positive technical indicators and earnings estimate movements, SITE may present a favorable investment opportunity [5].