Should You Buy EuroDry (EDRY) After Golden Cross?

Group 1 - EuroDry (EDRY) has reached a key level of support and is showing potential for a bullish breakout as its 50-day simple moving average has crossed above its 200-day simple moving average, indicating a "golden cross" [1] - A golden cross is characterized by a short-term moving average crossing above a long-term moving average, typically the 50-day and 200-day, which often leads to stronger breakouts [2] - The golden cross pattern consists of three stages: a downtrend that bottoms out, a crossover of moving averages indicating a trend reversal, and continued upward momentum towards higher prices [3] Group 2 - EDRY has moved 7.8% higher over the last four weeks, suggesting it may be on the verge of a breakout [4] - The company currently holds a 3 (Hold) rating on the Zacks Rank, with a positive earnings outlook as no earnings estimates have been cut and one revision has been made higher in the past 60 days [4] - The Zacks Consensus Estimate for EDRY has also increased, reinforcing the bullish case for the company [4][5]