Yahoo Finance Victory Capital Holdings (VCTR) Just Overtook the 20-Day Moving Average
Victory Capital Holdings (VCTR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, VCTR 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.
VCTR could be on the verge of another rally after moving 19.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
The bullish case only gets stronger once investors take into account VCTR's positive earnings estimate revisions. There have been 4 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 VCTR for more gains in the near future.
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Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report
