Bank of NT Butterfield & Son (NTB) Crossed Above the 20-Day Moving Average: What That Means for Investors
After reaching an important support level, Bank of NT Butterfield & Son (NTB) could be a good stock pick from a technical perspective. NTB surpassed resistance at 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.
Like other SMAs, 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.
NTB could be on the verge of another rally after moving 7.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at NTB's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors should think about putting NTB on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Bank of N.T. Butterfield & Son Limited (The) (NTB) : Free Stock Analysis Report
