Cardlytics (CDLX) Recently Broke Out Above the 200-Day Moving Average

Cardlytics (CDLX) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CDLX broke through the 200-day moving average, which suggests a long-term bullish trend.

The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.

CDLX could be on the verge of another rally after moving 139.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case solidifies once investors consider CDLX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.

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

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Cardlytics, Inc. (CDLX): Free Stock Analysis Report

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