CRA International (CRAI) Crossed Above the 20-Day Moving Average: What That Means for Investors
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CRA International (CRAI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CRAI 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.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of CRAI have been moving higher over the past four weeks, up 10.3%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that CRAI could be poised for a continued surge.
The bullish case only gets stronger once investors take into account CRAI's positive earnings estimate revisions. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on CRAI for more gains in the near future.
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Charles River Associates (CRAI) : Free Stock Analysis Report