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Hub Group (HUBG) Just Reclaimed the 20-Day Moving Average
Hub Group (HUBG - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HUBG crossed above the 20-day moving average, suggesting 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.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of HUBG have been moving higher over the past four weeks, up 7%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that HUBG could be poised for a continued surge.
Looking at HUBG's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 6 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on HUBG for more gains in the near future.