BellRing Brands (BRBR) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, BRBR broke through the 50-day moving average, which suggests 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 BRBR have been moving higher over the past four weeks, up 9.7%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that BRBR could be poised for a continued surge.
Looking at BRBR's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 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 BRBR for more gains in the near future.
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BellRing Brands Inc. (BRBR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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