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HubSpot (HUBS) Crossed Above the 50-Day Moving Average: What That Means for Investors
From a technical perspective, HubSpot (HUBS - Free Report) is looking like an interesting pick, as it just reached a key level of support. HUBS recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
HUBS has rallied 14.2% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests HUBS could be on the verge of another move higher.
Looking at HUBS's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 12 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 HUBS for more gains in the near future.