Tactile Systems Technology (TCMD) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, TCMD broke out above the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
TCMD has rallied 25.7% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests TCMD could be on the verge of another move higher.
Looking at TCMD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting TCMD on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Tactile Systems Technology, Inc. (TCMD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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