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JD.com, Inc. (JD) Crossed Above the 200-Day Moving Average: What That Means for Investors
From a technical perspective, JD.com, Inc. (JD - Free Report) is looking like an interesting pick, as it just reached a key level of support. JD recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
Shares of JD have been moving higher over the past four weeks, up 36.4%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that JD could be poised for a continued surge.
The bullish case only gets stronger once investors take into account JD's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, 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 JD for more gains in the near future.