Allegiant Travel (ALGT) Now Trades Above Golden Cross: Time to Buy?

Core Viewpoint - Allegiant Travel Company (ALGT) shows potential as a stock pick due to a recent "golden cross" event, indicating a bullish trend reversal [1][4]. Technical Analysis - A "golden cross" occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), signaling a bullish breakout [2]. - The successful golden cross event consists of three stages: a price decline bottoming out, the shorter moving average crossing above the longer one, and maintaining upward momentum [3]. Recent Performance - ALGT shares have increased by 7.3% over the past four weeks, indicating positive momentum [4]. - The company holds a 2 (Buy) rating on the Zacks Rank, suggesting strong potential for further gains [4]. Earnings Outlook - There have been no cuts to earnings estimates for the current quarter, with six revisions upward in the past 60 days, contributing to a positive earnings outlook [4]. - The Zacks Consensus Estimate for earnings has also increased, reinforcing the bullish sentiment around ALGT [6].