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Hibbett (HIBB) Just Reclaimed the 20-Day Moving Average

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Hibbett (HIBB - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HIBB crossed above the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

Moving Average Chart for HIBB

Shares of HIBB have been moving higher over the past four weeks, up 19.8%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that HIBB could be poised for a continued surge.

Once investors consider HIBB's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors should think about putting HIBB on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


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