Back to top
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Tactile Systems Technology (TCMD) Recently Broke Out Above the 50-Day Moving Average
Tactile Systems Technology (TCMD - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, TCMD broke out above the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
TCMD has rallied 25.7% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests TCMD could be on the verge of another move higher.
Looking at TCMD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting TCMD on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.