JD.com, Inc. (JD) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, JD broke through the 200-day moving average, which suggests a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
JD has rallied 5.7% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests JD could be on the verge of another move higher.
Looking at JD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 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 JD for more gains in the near future.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
