Fastly (FSLY) Just Reclaimed the 200-Day Moving Average

After reaching an important support level, Fastly (FSLY) could be a good stock pick from a technical perspective. FSLY surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.FSLY could be on the verge of another rally after moving 39.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.The bullish case solidifies once investors consider FSLY's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.Investors should think about putting FSLY on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 Fastly, Inc. (FSLY): 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