Singapore markets close in 4 hours 12 minutes
  • Straits Times Index

    -9.38 (-0.28%)
  • Nikkei

    -449.18 (-1.17%)
  • Hang Seng

    -224.69 (-1.22%)
  • FTSE 100

    -71.11 (-0.86%)
  • Bitcoin USD

    -690.74 (-1.00%)
  • CMC Crypto 200

    -20.57 (-1.39%)
  • S&P 500

    -39.09 (-0.74%)
  • Dow

    -411.32 (-1.06%)
  • Nasdaq

    -99.30 (-0.58%)
  • Gold

    -8.00 (-0.34%)
  • Crude Oil

    -0.07 (-0.09%)
  • 10-Yr Bond

    +0.0820 (+1.81%)
  • FTSE Bursa Malaysia

    +2.40 (+0.15%)
  • Jakarta Composite Index

    -87.96 (-1.23%)
  • PSE Index

    -45.08 (-0.70%)

International Consolidated Airlines Group SA (ICAGY)'s Technical Outlook is Bright After Key Golden Cross

International Consolidated Airlines Group SA (ICAGY) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ICAGY's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."

Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices.

A golden cross contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.


ICAGY has rallied 21.3% over the past four weeks, and the company is a #3 (Hold) on the Zacks Rank at the moment. This combination indicates ICAGY could be poised for a breakout.

The bullish case only gets stronger once investors take into account ICAGY's positive earnings outlook for the current quarter. There have been 1 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ICAGY for more gains in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

International Consolidated Airlines Group SA (ICAGY) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research