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Marten Transport, Ltd. (MRTN) Just Reclaimed the 20-Day Moving Average

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Marten Transport, Ltd. (MRTN - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MRTN crossed above the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Moving Average Chart for MRTN

Shares of MRTN have been moving higher over the past four weeks, up 8.6%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that MRTN could be poised for a continued surge.

Once investors consider MRTN's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, 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 MRTN for more gains in the near future.


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