Karooooo Ltd. (KARO) Crossed Above the 50-Day Moving Average: What That Means for Investors

Karooooo Ltd. (KARO) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, KARO broke through the 50-day moving average, which suggests 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 d ...