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Taylor Morrison Home (TMHC) Just Reclaimed the 200-Day Moving Average
Taylor Morrison Home (TMHC - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, TMHC broke through the 200-day moving average, which 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.
TMHC has rallied 5.4% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests TMHC could be on the verge of another move higher.
Once investors consider TMHC's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, 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 TMHC for more gains in the near future.