Veracyte (VCYT) Just Overtook the 20-Day Moving Average

After reaching an important support level, Veracyte (VCYT) could be a good stock pick from a technical perspective. VCYT surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows 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.Shares of VCYT have been moving higher over the past four weeks, up 5.4%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that VCYT could be poised for a continued surge.Looking at VCYT's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch VCYT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 Veracyte, Inc. (VCYT): 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