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G-III Apparel Group (GIII) Just Overtook the 20-Day Moving Average

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G-III Apparel Group (GIII) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, GIII broke through the 20-day moving average, which suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives 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.

GIII could be on the verge of another rally after moving 6% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Once investors consider GIII's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 1 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors should think about putting GIII on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


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