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Medical Properties (MPW) Just Overtook the 20-Day Moving Average
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Medical Properties (MPW - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MPW crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of MPW have been moving higher over the past four weeks, up 7.6%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that MPW could be poised for a continued surge.
Once investors consider MPW's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 3 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors may want to watch MPW for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Medical Properties (MPW) Just Overtook the 20-Day Moving Average
Medical Properties (MPW - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MPW crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of MPW have been moving higher over the past four weeks, up 7.6%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that MPW could be poised for a continued surge.
Once investors consider MPW's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 3 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors may want to watch MPW for more gains in the near future given the company's key technical level and positive earnings estimate revisions.