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TriplePoint Venture Growth BDC Corp. (TPVG) - free report >>
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TriplePoint Venture Growth BDC Corp. (TPVG) - free report >>
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TriplePoint Venture Growth (TPVG) Just Reclaimed the 200-Day Moving Average
TriplePoint Venture Growth (TPVG - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, TPVG crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
TPVG could be on the verge of another rally after moving 5.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Once investors consider TPVG's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, and the consensus estimate has increased as well.
Investors should think about putting TPVG on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.