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Corebridge Financial (CRBG) Just Overtook the 200-Day Moving Average
Corebridge Financial (CRBG - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CRBG broke through the 200-day moving average, which 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.
Shares of CRBG have been moving higher over the past four weeks, up 16.2%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that CRBG could be poised for a continued surge.
Once investors consider CRBG'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 4 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 CRBG for more gains in the near future.