Yelp (YELP) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, YELP 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.
Shares of YELP have been moving higher over the past four weeks, up 12.7%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that YELP could be poised for a continued surge.
Looking at YELP'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 may want to watch YELP for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Yelp Inc. (YELP): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).