From a technical perspective, Vista Outdoor (VSTO - Free Report) is looking like an interesting pick, as it just reached a key level of support. VSTO recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
Shares of VSTO have been moving higher over the past four weeks, up 5.8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that VSTO could be poised for a continued surge.
The bullish case solidifies once investors consider VSTO's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 8 higher, while the consensus estimate has increased too.
Investors should think about putting VSTO on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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From a technical perspective, Vista Outdoor (VSTO - Free Report) is looking like an interesting pick, as it just reached a key level of support. VSTO recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
Shares of VSTO have been moving higher over the past four weeks, up 5.8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that VSTO could be poised for a continued surge.
The bullish case solidifies once investors consider VSTO's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 8 higher, while the consensus estimate has increased too.
Investors should think about putting VSTO on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>
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