After reaching an important support level, Bilibili (BILI - Free Report) could be a good stock pick from a technical perspective. BILI surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
BILI has rallied 113.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests BILI could be on the verge of another move higher.
The bullish case solidifies once investors consider BILI's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors should think about putting BILI on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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After reaching an important support level, Bilibili (BILI - Free Report) could be a good stock pick from a technical perspective. BILI surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
BILI has rallied 113.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests BILI could be on the verge of another move higher.
The bullish case solidifies once investors consider BILI's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors should think about putting BILI on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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