Yahoo Finance Bilibili (BILI) Just Overtook the 20-Day Moving Average
Bilibili (BILI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, BILI crossed above 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.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, BILI has gained 42.7%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Looking at BILI's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 revisions higher for the current fiscal year compared to none lower, and the 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 BILI for more gains in the near future.
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