Blackline Safety (CVE:BLN) Stock Passes Above 50-Day Moving Average of $8.92

Blackline Safety Corp. (CVEBLN) is a company that provides safety solutions for industrial workers. The stock has been trading on the Toronto Stock Exchange (TSX) since 2013 and has a market capitalization of approximately C$450 million as of August 2021.

On Friday, August 6th, Blackline Safety shares crossed above their 50-day moving average during trading. The 50-day moving average is a technical indicator that shows the average price of a stock over the past 50 trading days. In this case, the 50-day moving average for Blackline Safety Corp. is C$8.92.

During trading on Friday, the highest price that Blackline Safety shares reached was C$9.04. This represents a positive sign for the stock as it indicates that investors are willing to pay a higher price for the shares. The last traded price of Blackline Safety shares was C$8.92, with a volume of 15,300 shares.

It's worth noting that Wall Street analysts have forecast growth for Blackline Safety Corp. separately. Canaccord Genuity, a leading financial services firm, has recently upgraded its price target for the stock to C$9.25 from C$8.75. This indicates that the analyst believes that the stock is undervalued and has potential for growth.

Overall, the fact that Blackline Safety shares crossed above their 50-day moving average during trading on Friday is a positive sign for the stock. It suggests that investors are willing to pay a higher price for the shares, which could indicate that the stock is undervalued and has potential for growth. Additionally, the recent upgrade in price target by Canaccord Genuity further supports this notion.