Yahoo Finance Unity Software Inc. (U) Crossed Above the 20-Day Moving Average: What That Means for Investors
Unity Software Inc. (U) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, U 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.
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 U have been moving higher over the past four weeks, up 13.5%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that U could be poised for a continued surge.
Looking at U's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors should think about putting U on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Unity Software Inc. (U) : Free Stock Analysis Report
