From a technical perspective, Sensus Healthcare, Inc. (SRTS) is looking like an interesting pick, as it just reached a key level of support. SRTS recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It’s one of three major moving averages, but takes precedent because it’s the first sign of an up or down trend.
SRTS has rallied 16.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests SRTS could be on the verge of another move higher.
The bullish case solidifies once investors consider SRTS’s positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on SRTS for more gains in the near future.
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As one investor put it, “curing and preventing hundreds of diseases…what should that market be worth?” This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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