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Affirm Holdings (AFRM) Recently Broke Out Above the 50-Day Moving Average
Affirm Holdings (AFRM - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, AFRM broke out above the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
Shares of AFRM have been moving higher over the past four weeks, up 9.5%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that AFRM could be poised for a continued surge.
Looking at AFRM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 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 AFRM for more gains in the near future.