Unity Software Inc. (U) Just Overtook the 200-Day Moving Average

After reaching an important support level, Unity Software Inc. (U) could be a good stock pick from a technical perspective. U surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Shares of U have been moving higher over the past four weeks, up 11.4%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that U could be poised for a continued surge.

Looking at U's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, 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 U for more gains in the near future.

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

Unity Software Inc. (U) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

View Comments