GitLab Inc. (GTLB) Just Reclaimed the 50-Day Moving Average

From a technical perspective, GitLab Inc. (GTLB) is looking like an interesting pick, as it just reached a key level of support. GTLB recently overtook the 50-day moving average, and this suggests a short-term bullish trend.One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.GTLB could be on the verge of another rally after moving 7.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.Looking at GTLB's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 9 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 GTLB for more gains in the near future.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 GitLab Inc. (GTLB): 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