NiSource (NI) Crossed Above the 20-Day Moving Average: What That Means for Investors
NiSource (NI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, NI 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.
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.
NI could be on the verge of another rally after moving 5.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Once investors consider NI's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 3 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on NI for more gains in the near future.
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NiSource, Inc (NI) : Free Stock Analysis Report
