Arcutis Biotherapeutics, Inc. (ARQT) Recently Broke Out Above the 20-Day Moving Average

Technical Analysis - ARQT reached a significant support level and broke through the 20-day moving average, indicating a short-term bullish trend [1] - The 20-day simple moving average is a useful tool for short-term traders as it smooths out price trends and provides trend reversal signals [2] - ARQT's price moved above the 20-day SMA (9.22) to 9.26, suggesting a positive trend [3] - ARQT's stock price increased by 13.5% over the last four weeks, potentially signaling another rally [3] Earnings and Revisions - ARQT has seen 3 upward earnings estimate revisions for the current fiscal year with no downward revisions, strengthening the bullish case [4] - The consensus estimate for ARQT has also moved higher, indicating positive sentiment among analysts [4] Investment Outlook - ARQT is currently a Zacks Rank 2 (Buy) stock, further supporting its potential for near-term gains [3] - Investors may consider ARQT for potential gains due to its technical levels and positive earnings estimate revisions [4]