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Lantheus Holdings (LNTH) Crossed Above the 50-Day Moving Average: What That Means for Investors
Lantheus Holdings (LNTH - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, LNTH 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.
Shares of LNTH have been moving higher over the past four weeks, up 7.8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that LNTH could be poised for a continued surge.
Looking at LNTH's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch LNTH for more gains in the near future given the company's key technical level and positive earnings estimate revisions.