Free Trial

4 Golden Crosses With Double-Digit Upside Ahead

→ Bitcoin’s Biggest Year Yet (From Paradigm Press) (Ad)

Key Points

  • Golden Crosses are important technical events that can lead to a significant upside in stock prices.
  • Marketbeat.com tracks price action and lists Golden Crossovers as a service for investors and traders. 
  • These 4 stocks fired Golden Crossovers recently and have a double-digit upside ahead. 
  • 5 stocks we like better than Allot Communications

 

Golden Cross Technical analysis

Marketbeat's numerous tools for investors include screens and analyses of fundamental and technical factors. The tool we're looking at today is a technical screen for golden crosses. A golden cross is when a shorter-term EMA, such as a 30-day or 50-day average, crosses above a longer-term EMA. Longer-term EMAs could run from 100 to 300 days, but the crossover is what matters. 

Technical analysis assumes the shorter EMA represents activity by short-term oriented traders and the more extended activity by long-term oriented traders; when the short crosses over the long, it signals a convergence of markets that can lead to accelerated share price action. A convergence of markets is when one or more technical factors signal a buy, suggesting a high degree of commitment from the market. The higher the degree of commitment, the higher the price action can move. 

Allot Communications, Ltd Is Pivoting Back to Growth

Allot, Ltd NASDAQ: ALLT is a technology company focused on network security for enterprises and ISPs. Its stock price has fallen significantly over the last year as business contracted and analysts cut their price targets. The takeaway today is that a Golden Cross of the 30-day and 150-day EMA signals a bottom, and there is a high probability that the stock will enter a complete reversal within the next 12 months. 

The bottom and Golden Cross aligned with recent results, which were better than expected and provided favorable guidance. The guidance isn't robust but expects flat revenue and break-even conditions in 2024, and analysts are forecasting a return to growth by year-end. Marketbeat.com tracks three analysts with reports on Allot; they rate the stock as Moderate Buy and view it as undervalued, trading below the low end of their target range.

ALLT stock chart

Datasea Inc. is Growing at a Hyper-Pace

Datasea NASDAQ: DTSS is a smaller 5G operator in China providing services to mobile operators, smart cities, and enterprise security. Its Golden Cross is driven by two recent news events that support the outlook for quadruple-digit growth and the potential for outperformance. The latest news was released in early March and helped confirm the technical price action. 

The company is guiding for 1100% revenue growth this year, and the market expects growth to continue in the next fiscal year. No analysts have rated this stock, but the institutional activity is noteworthy. Institutions, including insiders and large shareholders, own more than 80% of the stock and have been buying it recently. 

DTSS stock chart

GSI Technology: An AI-Powered Golden Crossover

GSI Technology NASDAQ: GSIT is a niche semiconductor manufacturer focused on memory solutions and computer vision applications for industrial, enterprise, and government use. The company's offerings are in demand, fueling growth with a chance for hypergrowth over the next few years. A recent announcement drove the Golden Cross. The company is entering a sale-leaseback arrangement for its Sunnyvale property, which will raise $11.85 million in capital. The capital raise will help the company sustain operations as it works to launch its Gemini-II product and maintain a fortress balance sheet. The company has no debt.

GSIT stock chart

IAC Is Turning a Corner 

IAC NASDAQ: IAC is an omnichannel media giant with brands like Ask.com and Angi (formerly Angie's List) in its portfolio. The stock recently fired a Golden Cross in tandem with Q4 results, which were weaker than expected but pointed to a shift in business. The company intends to return to growth and profitability this year and to produce a full year of profits in 2025. Analysts like the stock and have it ranked on Marketbeat's list of Top Rated Stocks. They have it pegged at Moderate Buy and view it as a deep value, trading below the low end of their target range. 

→ Bitcoin’s Biggest Year Yet (From Paradigm Press) (Ad)

Should you invest $1,000 in Allot Communications right now?

Before you consider Allot Communications, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allot Communications wasn't on the list.

While Allot Communications currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Own Before the 2024 Election Cover

Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
IAC (IAC)
3.8919 of 5 stars
$49.80+0.7%N/A-31.52Moderate Buy$79.92
GSI Technology (GSIT)
0 of 5 stars
$2.79+2.6%N/A-3.49N/A
Datasea (DTSS)
0 of 5 stars
$5.49-2.5%N/A-0.99N/A
Allot Communications (ALLT)
2.2765 of 5 stars
$2.20-3.1%N/A-1.33Moderate Buy$2.83
Compare These Stocks  Add These Stocks to My Watchlist 

Thomas Hughes

About Thomas Hughes

  • tmhughes.writeon@gmail.com

Contributing Author

Technical and Fundamental Analysis

Experience

Thomas Hughes has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical analysis, the S&P 500; retail, consumer, consumer staples, dividends, high-yield, small caps, technology, economic data, oil, cryptocurrencies

Education

Associate of Arts in Culinary Technology

Past Experience

Market watcher, trader and investor for numerous websites. Founded Passive Market Intelligence LLC to provide market research insights. 


Featured Articles and Offers

Search Headlines: