Yahoo Finance Avantor, Inc. (AVTR) Crossed Above the 50-Day Moving Average: What That Means for Investors
From a technical perspective, Avantor, Inc. (AVTR) is looking like an interesting pick, as it just reached a key level of support. AVTR recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
Shares of AVTR have been moving higher over the past four weeks, up 5.4%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that AVTR could be poised for a continued surge.
The bullish case solidifies once investors consider AVTR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on AVTR for more gains in the near future.
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