Avnet (AVT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AVT broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
AVT has rallied 7.8% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests AVT could be on the verge of another move higher.
Looking at AVT's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting AVT on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Avnet (AVT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AVT broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
AVT has rallied 7.8% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests AVT could be on the verge of another move higher.
Looking at AVT's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting AVT 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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