Published on 8 Nov 2023 on Zacks via Yahoo Finance
Direct Digital Holdings, Inc. (DRCT) Just Flashed Golden Cross Signal: Do You Buy?
Direct Digital Holdings, Inc. (DRCT) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DRCT's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."
A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.