Group 1 - CVB Financial Corporation (CVBF) has reached an important support level and could be a good stock pick from a technical perspective due to a recent "golden cross" event [1] - A golden cross is a technical chart pattern indicating a potential bullish breakout, formed when a security's short-term moving average crosses above a longer-term moving average, typically the 50-day and 200-day [2] - The golden cross pattern consists of three stages: a downtrend that bottoms out, the shorter moving average crossing above the longer moving average, and the stock continuing upward momentum [3] Group 2 - CVBF has moved 9.6% higher over the last four weeks, indicating potential for a breakout, and currently holds a 3 (Hold) rating on the Zacks Rank [4] - The positive earnings outlook for CVBF strengthens the bullish case, with no earnings estimates decreasing in the past two months and three revisions higher, leading to an increase in the Zacks Consensus Estimate [4] - Given the positive technical factors and the movement in earnings estimates, CVBF may present further gains for investors in the near future [5]
Should You Buy CVB Financial (CVBF) After Golden Cross?