Global Payments (GPN) Recently Broke Out Above the 20-Day Moving Average

Global Payments (GPN) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, GPN broke through the 20-day moving average, which suggests 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.

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.

GPN could be on the verge of another rally after moving 10.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Looking at GPN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on GPN for more gains in the near future.

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Global Payments Inc. (GPN): Free Stock Analysis Report

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

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