UGI (UGI) Crossed Above the 200-Day Moving Average: What That Means for Investors
UGI (UGI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, UGI crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
UGI has rallied 7.7% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests UGI could be on the verge of another move higher.
Once investors consider UGI's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, and the consensus estimate has increased as well.
Investors may want to watch UGI for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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UGI Corporation (UGI) : Free Stock Analysis Report
