Catalyst Pharmaceutical (CPRX) Recently Broke Out Above the 20-Day Moving Average

From a technical perspective, Catalyst Pharmaceutical (CPRX) is looking like an interesting pick, as it just reached a key level of support. CPRX recently overtook the 20-day moving average, and this suggests 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, CPRX has gained 8%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.The bullish case solidifies once investors consider CPRX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 4 higher, while the consensus estimate has increased too.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CPRX for more gains in the near future.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Catalyst Pharmaceuticals, Inc. (CPRX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks