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Starwood Property Trust (STWD) Crossed Above the 200-Day Moving Average: What That Means for Investors
Starwood Property Trust (STWD - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, STWD crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
STWD could be on the verge of another rally after moving 5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Once investors consider STWD'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 1 higher, 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 STWD for more gains in the near future.