Western New England Bancorp (WNEB) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, WNEB's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.Shares of WNEB have been moving higher over the past four weeks, up 6.9%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that WNEB could be poised for a breakout.The bullish case solidifies once investors consider WNEB's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 1 revisions higher in the past 60 days. The Zacks Consensus Estimate has increased too.Investors should think about putting WNEB on their watchlist given the ultra-important technical indicator and positive move in earnings estimates. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Western New England Bancorp (WNEB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research