Yahoo Finance Upwork (UPWK) Just Reclaimed the 50-Day Moving Average
From a technical perspective, Upwork (UPWK) is looking like an interesting pick, as it just reached a key level of support. UPWK recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
UPWK could be on the verge of another rally after moving 7.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
The bullish case only gets stronger once investors take into account UPWK's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch UPWK for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Upwork Inc. (UPWK) : Free Stock Analysis Report
