M-tron Industries, Inc. (MPTI) Crossed Above the 20-Day Moving Average: What That Means for Investors

M-tron Industries, Inc. (MPTI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, MPTI broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.The 20-day moving average can show signals that are similar to other SMAs as well. 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.MPTI has rallied 20.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests MPTI could be on the verge of another move higher.The bullish case solidifies once investors consider MPTI's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on MPTI 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 M-tron Industries, Inc. (MPTI): 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