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Kinsale Capital Group, Inc. (KNSL) Just Reclaimed the 50-Day Moving Average
Kinsale Capital Group, Inc. (KNSL - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, KNSL broke through the 50-day moving average, which suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
Over the past four weeks, KNSL has gained 8.5%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
Looking at KNSL's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on KNSL for more gains in the near future.