Advertisement
UK markets closed
  • FTSE 100

    8,245.37
    -39.97 (-0.48%)
     
  • FTSE 250

    20,555.37
    -160.51 (-0.77%)
     
  • AIM

    793.53
    -3.01 (-0.38%)
     
  • GBP/EUR

    1.1772
    +0.0031 (+0.26%)
     
  • GBP/USD

    1.2724
    -0.0069 (-0.54%)
     
  • Bitcoin GBP

    54,588.84
    -1,115.94 (-2.00%)
     
  • CMC Crypto 200

    1,443.26
    -35.44 (-2.40%)
     
  • S&P 500

    5,346.99
    -5.97 (-0.11%)
     
  • DOW

    38,798.99
    -87.18 (-0.22%)
     
  • CRUDE OIL

    75.38
    -0.17 (-0.23%)
     
  • GOLD FUTURES

    2,311.10
    -79.80 (-3.34%)
     
  • NIKKEI 225

    38,683.93
    -19.58 (-0.05%)
     
  • HANG SENG

    18,366.95
    -109.85 (-0.59%)
     
  • DAX

    18,557.27
    -95.40 (-0.51%)
     
  • CAC 40

    8,001.80
    -38.32 (-0.48%)
     

Root, Inc. (ROOT) Recently Broke Out Above the 20-Day Moving Average

From a technical perspective, Root, Inc. (ROOT) is looking like an interesting pick, as it just reached a key level of support. ROOT recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

The 20-day moving average can show signals that are similar to other SMAs as well. 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.

Moving Average Chart for ROOT
Moving Average Chart for ROOT

ROOT could be on the verge of another rally after moving 14.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

ADVERTISEMENT

Looking at ROOT'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.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ROOT for more gains in the near future.

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

Root, Inc. (ROOT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research