Plains All American Pipeline (PAA) Now Trades Above Golden Cross: Time to Buy?

Core Viewpoint - Plains All American Pipeline, L.P. (PAA) is showing potential for a bullish breakout due to a recent "golden cross" in its moving averages, indicating a positive trend reversal [1][2]. Technical Analysis - PAA's 50-day simple moving average has crossed above its 200-day simple moving average, forming a "golden cross," which is a bullish signal in trading [1][2]. - A golden cross typically suggests that a stock may experience a bullish breakout, as it indicates a shift from a downtrend to an upward momentum [2][3]. Price Movement - Over the past four weeks, PAA has experienced a rally of 5.1%, suggesting positive momentum in its stock price [4]. - The combination of the recent price rally and the technical indicators suggests that PAA could be poised for further gains [4]. Earnings Outlook - PAA's earnings outlook is positive, with no earnings estimates being cut and one revision higher in the past 60 days, indicating confidence among analysts [4]. - The Zacks Consensus Estimate for PAA has also increased, further solidifying the bullish case for the company [4][5].