After reaching an important support level, Arbor Realty Trust (ABR) could be a good stock pick from a technical perspective. ABR surpassed resistance at the 200-day moving average, suggesting 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 ABR have been moving higher over the past four weeks, up 14.4%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that ABR could be poised for a continued surge.
Once investors consider ABR'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 3 higher, and the consensus estimate has increased as well.
Investors may want to watch ABR for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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