Antero Resources (AR) Just Overtook the 200-Day Moving Average
From a technical perspective, Antero Resources (AR) is looking like an interesting pick, as it just reached a key level of support. AR recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of AR have been moving higher over the past four weeks, up 12.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that AR could be poised for a continued surge.
The bullish case solidifies once investors consider AR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, while the consensus estimate has increased too.
Investors should think about putting AR on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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