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PubMatic, Inc. (PUBM) Just Reclaimed the 200-Day Moving Average
PubMatic, Inc. (PUBM - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PUBM broke through the 200-day moving average, which suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
PUBM has rallied 14.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests PUBM could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account PUBM's positive earnings estimate revisions. 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 PUBM for more gains in the near future.