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Fastly (FSLY) Just Overtook the 20-Day Moving Average

From a technical perspective, Fastly (FSLY) is looking like an interesting pick, as it just reached a key level of support. FSLY recently overtook the 20-day moving average, and this suggests 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.

Moving Average Chart for FSLY
Moving Average Chart for FSLY

Shares of FSLY have been moving higher over the past four weeks, up 5.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that FSLY could be poised for a continued surge.

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The bullish case solidifies once investors consider FSLY's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on FSLY for more gains in the near future.

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Fastly, Inc. (FSLY) : Free Stock Analysis Report

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