TriplePoint Venture Growth (TPVG) Crossed Above the 50-Day Moving Average: What That Means for Investors
TriplePoint Venture Growth (TPVG) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, TPVG broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
TPVG has rallied 7.7% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests TPVG could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account TPVG's positive earnings estimate revisions. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting TPVG on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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TriplePoint Venture Growth BDC Corp. (TPVG) : Free Stock Analysis Report
