TriplePoint Venture Growth (TPVG) Just Reclaimed the 20-Day Moving Average
After reaching an important support level, TriplePoint Venture Growth (TPVG) could be a good stock pick from a technical perspective. TPVG surpassed resistance at 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.
Shares of TPVG have been moving higher over the past four weeks, up 5.5%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that TPVG could be poised for a continued surge.
Once investors consider TPVG'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.
Investors may want to watch TPVG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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TriplePoint Venture Growth BDC Corp. (TPVG) : Free Stock Analysis Report
