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Fastly (FSLY) Recently Broke Out Above the 50-Day Moving Average
Fastly (FSLY - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, FSLY broke out above the 50-day moving average, suggesting 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 11.4% 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.
Investors may want to watch FSLY for more gains in the near future given the company's key technical level and positive earnings estimate revisions.