Moderna (MRNA) Recently Broke Out Above the 20-Day Moving Average

Moderna (MRNA) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MRNA crossed above the 20-day moving average, suggesting a short-term bullish trend.A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.MRNA could be on the verge of another rally after moving 6.9% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.Looking at MRNA's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 9 revisions higher for the current fiscal year compared to none lower, 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 MRNA 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 Moderna, Inc. (MRNA): 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