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Riskified (RSKD) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Riskified (RSKD) is looking like an interesting pick, as it just reached a key level of support. RSKD recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

Shares of RSKD have been moving higher over the past four weeks, up 10.4%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that RSKD could be poised for a continued surge.

The bullish case solidifies once investors consider RSKD's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.

Investors should think about putting RSKD on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

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