Coeur Mining (CDE) Just Flashed Golden Cross Signal: Do You Buy?

After reaching an important support level, Coeur Mining (CDE) could be a good stock pick from a technical perspective. CDE surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

CDE could be on the verge of another rally after moving 6.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.

Once investors consider CDE's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors may want to watch CDE for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

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This article originally published on Zacks Investment Research (zacks.com).

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