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Playa Hotels & Resorts (PLYA) Recently Broke Out Above the 50-Day Moving Average
After reaching an important support level, Playa Hotels & Resorts (PLYA - Free Report) could be a good stock pick from a technical perspective. PLYA surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
PLYA has rallied 5.5% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests PLYA could be on the verge of another move higher.
Looking at PLYA's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch PLYA for more gains in the near future given the company's key technical level and positive earnings estimate revisions.