Should You Buy 89BIO (ETNB) After Golden Cross?

Core Insights - 89BIO (ETNB) is showing potential for a bullish breakout as it has reached a key support level and experienced a "golden cross" where its 50-day simple moving average crossed above its 200-day simple moving average [1] - The golden cross is a significant technical indicator that suggests a positive trend reversal after a downtrend, leading to potential upward momentum in stock prices [2] Technical Analysis - ETNB has moved 67.4% higher over the last four weeks, indicating strong upward momentum [3] - The company is currently rated 2 (Buy) on the Zacks Rank, reflecting positive market sentiment [3] Earnings Expectations - There have been two upward revisions in earnings expectations for the current quarter, with no downward revisions in the past 60 days, which supports the bullish outlook for ETNB [3][4] - The Zacks Consensus Estimate for ETNB has also increased, further reinforcing investor confidence in the stock's upward trajectory [3]