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Sprouts Farmers (SFM) Recently Broke Out Above the 200-Day Moving Average
Sprouts Farmers (SFM - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SFM crossed above the 200-day moving average, suggesting 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.
SFM could be on the verge of another rally after moving 12.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Looking at SFM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch SFM for more gains in the near future given the company's key technical level and positive earnings estimate revisions.