Arbor Realty Trust (ABR) Recently Broke Out Above the 20-Day Moving Average
Arbor Realty Trust (ABR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ABR crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of ABR have been moving higher over the past four weeks, up 5.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that ABR could be poised for a continued surge.
The bullish case only gets stronger once investors take into account ABR's positive earnings estimate revisions. There have been 4 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ABR for more gains in the near future.
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Arbor Realty Trust (ABR) : Free Stock Analysis Report
