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Hub Group (HUBG) Just Overtook the 50-Day Moving Average
Hub Group (HUBG - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, HUBG broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
Shares of HUBG have been moving higher over the past four weeks, up 8.9%. 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 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch HUBG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.