AppFolio (APPF) Recently Broke Out Above the 200-Day Moving Average

AppFolio (APPF) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, APPF crossed above 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.Over the past four weeks, APPF has gained 23.3%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.The bullish case only gets stronger once investors take into account APPF's positive earnings estimate revisions. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Investors should think about putting APPF on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.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 AppFolio, Inc. (APPF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks