Kite Realty Group (KRG) Recently Broke Out Above the 200-Day Moving Average
From a technical perspective, Kite Realty Group (KRG) is looking like an interesting pick, as it just reached a key level of support. KRG recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
Shares of KRG have been moving higher over the past four weeks, up 25.3%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that KRG could be poised for a continued surge.
The bullish case only gets stronger once investors take into account KRG's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, 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 KRG for more gains in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kite Realty Group Trust (KRG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
