Published on 29 Apr 2024 on Zacks via Yahoo Finance
Banco Macro (BMA) Just Reclaimed the 20-Day Moving Average
From a technical perspective, Banco Macro (BMA) is looking like an interesting pick, as it just reached a key level of support. BMA recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.