Honda Motor (HMC - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HMC crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, HMC has gained 5.8%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case solidifies once investors consider HMC's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors may want to watch HMC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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Honda Motor (HMC - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HMC crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, HMC has gained 5.8%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case solidifies once investors consider HMC's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors may want to watch HMC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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