Pan American Silver (PAAS) Crossed Above the 20-Day Moving Average: What That Means for Investors
From a technical perspective, Pan American Silver (PAAS) is looking like an interesting pick, as it just reached a key level of support. PAAS recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
Moving Average Chart for PAAS PAAS has rallied 8.2% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests PAAS could be on the verge of another move higher.
Looking at PAAS's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on PAAS for more gains in the near future.
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Pan American Silver Corp. (PAAS) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The recent surge of Pan American Silver (PAAS) above its 20-day moving average signifies a potential bullish trend for investors, increasing the prospects and attractiveness within short to medium term trading strategies.
The crossover of Pan American Silver's (PAAS) stock price above its 20-day moving average signals potential momentum for buyers, indicating an uptrend that may encourage further investing as a sign of strength in the market.
The cross of Pan American Silver (PAAS) above its 20-day moving average marks a potential positive trend for investors, suggesting an upward momentum that could translate into attractive short to medium term opportunities.
