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Potbelly (PBPB) Just Reclaimed the 200-Day Moving Average
After reaching an important support level, Potbelly (PBPB - Free Report) could be a good stock pick from a technical perspective. PBPB surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
PBPB could be on the verge of another rally after moving 15.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at PBPB's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, 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 PBPB for more gains in the near future.