Five Below (FIVE - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, FIVE broke out above the 50-day moving average, suggesting 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 FIVE have been moving higher over the past four weeks, up 9%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that FIVE could be poised for a continued surge.
The bullish case only gets stronger once investors take into account FIVE's positive earnings estimate revisions. There have been 9 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch FIVE for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Five Below (FIVE - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, FIVE broke out above the 50-day moving average, suggesting 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 FIVE have been moving higher over the past four weeks, up 9%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that FIVE could be poised for a continued surge.
The bullish case only gets stronger once investors take into account FIVE's positive earnings estimate revisions. There have been 9 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch FIVE for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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