Published on 20 Mar 2024 on Zacks via Yahoo Finance
Laird Superfood, Inc. (LSF) Just Flashed Golden Cross Signal: Do You Buy?
Laird Superfood, Inc. (LSF) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, LSF's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."
There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.