Bilibili (BILI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, BILI 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.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, BILI has gained 15.4%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Once investors consider BILI'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 should think about putting BILI on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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