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Blink Charging (BLNK) Recently Broke Out Above the 200-Day Moving Average
From a technical perspective, Blink Charging (BLNK - Free Report) is looking like an interesting pick, as it just reached a key level of support. BLNK recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
BLNK has rallied 42.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests BLNK could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account BLNK's positive earnings estimate revisions. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting BLNK on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.