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StepStone Group Inc. (STEP) Recently Broke Out Above the 20-Day Moving Average
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StepStone Group Inc. (STEP - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, STEP crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
STEP has rallied 9.5% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests STEP could be on the verge of another move higher.
Once investors consider STEP's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors may want to watch STEP for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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StepStone Group Inc. (STEP) Recently Broke Out Above the 20-Day Moving Average
StepStone Group Inc. (STEP - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, STEP crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
STEP has rallied 9.5% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests STEP could be on the verge of another move higher.
Once investors consider STEP's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors may want to watch STEP for more gains in the near future given the company's key technical level and positive earnings estimate revisions.