Yahoo Finance Texas Pacific (TPL) Crossed Above the 20-Day Moving Average: What That Means for Investors
Texas Pacific (TPL) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, TPL crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
Shares of TPL have been moving higher over the past four weeks, up 5%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that TPL could be poised for a continued surge.
Once investors consider TPL's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on TPL for more gains in the near future.
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Texas Pacific Land Corporation (TPL) : Free Stock Analysis Report
