Adma Biologics (ADMA) Recently Broke Out Above the 50-Day Moving Average

Adma Biologics (ADMA) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ADMA broke through the 50-day moving average, which suggests a short-term bullish trend.The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.Shares of ADMA have been moving higher over the past four weeks, up 9.3%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that ADMA could be poised for a continued surge.Once investors consider ADMA's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, and the consensus estimate has increased as well.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ADMA 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 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.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 ADMA Biologics Inc (ADMA): 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