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Party City (PRTY) Crossed Above the 50-Day Moving Average: What That Means for Investors

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

One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.

Shares of PRTY have been moving higher over the past four weeks, up 19.2%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that PRTY could be poised for a continued surge.

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

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on PRTY for more gains in the near future.


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Party City Holdco Inc. (PRTY): Free Stock Analysis Report
 
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