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HubSpot (HUBS) Recently Broke Out Above the 200-Day Moving Average
HubSpot (HUBS - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, HUBS broke through the 200-day moving average, which suggests 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.
HUBS has rallied 5.2% over the past four weeks, and the company is a Zacks Rank #3 (Hold) 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 3 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.