Marqeta, Inc. Shows Bullish Sign After Recent Gains

Marqeta, Inc. (MQ) is demonstrating a bullish trend after recently hitting a key support level.

The company recently achieved a “golden cross,” where its 50-day simple moving average surpassed its 200-day simple moving average.

A “golden cross” is a significant technical pattern indicating potential upward movement in stock prices. This event often suggests a bullish breakout, particularly when the 50-day and 200-day moving averages are involved due to their reliability in indicating strong trends.

There are three stages to a golden cross. It begins with a downtrend that bottoms out, followed by the short-term average crossing above the long-term average, signaling a trend reversal. Finally, the stock continues its upward momentum.

This pattern contrasts with a death cross, which typically indicates impending bearish trends.

Over the last four weeks, MQ’s stock has risen by 31.3%. It currently holds a #2 (Buy) rating on the Zacks Rank, suggesting potential for further gains.

Investors are likely encouraged by MQ’s earnings estimates. In the current quarter, there have been three upward revisions, with no downward adjustments, leading to an improved Zacks Consensus Estimate.

Given the positive earnings revisions and recent technical developments, MQ could be a stock to monitor for further growth.

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Marqeta, Inc. (MQ): Free stock analysis report available.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.