Published on 24 Aug 2023 on Zacks via Yahoo Finance
Barings BDC (BBDC)'s Technical Outlook is Bright After Key Golden Cross
After reaching an important support level, BARINGS BDC, INC. (BBDC) could be a good stock pick from a technical perspective. BBDC recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.
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.