Amazon (AMZN) Recently Broke Out Above the 20-Day Moving Average

Amazon (AMZN) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, AMZN crossed above the 20-day moving average, suggesting 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.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.AMZN could be on the verge of another rally after moving 5.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case solidifies once investors consider AMZN's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 16 higher, while the consensus estimate has increased too.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on AMZN for more gains in the near future.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 >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks