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MasterCraft Boat Holdings, Inc. (MCFT) Recently Broke Out Above the 20-Day Moving Average

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MasterCraft Boat Holdings, Inc. (MCFT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, MCFT broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Moving Average Chart for MCFT

Over the past four weeks, MCFT has gained 6.3%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.

Once investors consider MCFT's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 4 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors may want to watch MCFT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.


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