From a technical perspective, Xenia Hotels & Resorts (XHR) is looking like an interesting pick, as it just reached a key level of support. XHR recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
XHR has rallied 18.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests XHR could be on the verge of another move higher.
Once investors consider XHR'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.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on XHR for more gains in the near future.
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Xenia Hotels & Resorts, Inc. (XHR) : Free Stock Analysis Report
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