Yahoo Finance StepStone Group Inc. (STEP) Just Overtook the 20-Day Moving Average
After reaching an important support level, StepStone Group Inc. (STEP) could be a good stock pick from a technical perspective. STEP surpassed resistance at 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.
Over the past four weeks, STEP has gained 5.1%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
Looking at STEP's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors should think about putting STEP on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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StepStone Group Inc. (STEP) : Free Stock Analysis Report
