Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Fastly (FSLY) Just Reclaimed the 50-Day Moving Average
Fastly (FSLY - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, FSLY broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.
FSLY could be on the verge of another rally after moving 15.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Once investors consider FSLY's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on FSLY for more gains in the near future.