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Kura Sushi (KRUS) Just Reclaimed the 200-Day Moving Average
Kura Sushi (KRUS - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, KRUS crossed above the 200-day moving average, suggesting 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.
Over the past four weeks, KRUS has gained 13.8%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
Once investors consider KRUS'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 should think about putting KRUS on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.