MediaAlpha, Inc. (MAX) Just Overtook the 50-Day Moving Average

MediaAlpha, Inc. (MAX) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MAX broke out above the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

Over the past four weeks, MAX has gained 38.4%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case only gets stronger once investors take into account MAX's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Investors should think about putting MAX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

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MediaAlpha, Inc. (MAX): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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