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Lemonade (LMND) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Lemonade (LMND) is looking like an interesting pick, as it just reached a key level of support. LMND 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.

LMND could be on the verge of another rally after moving 13.9% 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 LMND's positive earnings estimate revisions. There have been 6 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

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Investors may want to watch LMND for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

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Lemonade, Inc. (LMND) : Free Stock Analysis Report

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