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Caribou Biosciences, Inc. (CRBU) Just Overtook the 200-Day Moving Average
Caribou Biosciences, Inc. (CRBU - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CRBU 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.
CRBU has rallied 68.5% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests CRBU could be on the verge of another move higher.
Looking at CRBU's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CRBU for more gains in the near future.