AppFolio (APPF) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, APPF crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
APPF could be on the verge of another rally after moving 8.9% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Once investors consider APPF's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 4 higher, and the consensus estimate has increased as well.
Investors may want to watch APPF for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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AppFolio, Inc. (APPF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).