Bilibili (BILI) Just Flashed Golden Cross Signal: Do You Buy?
Bilibili (BILI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, BILI broke through the 20-day moving average, which suggests 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.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
BILI has rallied 15.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests BILI could be on the verge of another move higher.
Once investors consider BILI's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on BILI for more gains in the near future.
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