From a technical perspective, Abercrombie & Fitch (ANF - Free Report) is looking like an interesting pick, as it just reached a key level of support. ANF recently overtook the 20-day moving average, and this suggests 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.
ANF has rallied 9.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests ANF could be on the verge of another move higher.
The bullish case solidifies once investors consider ANF'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 ANF 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 >>
From a technical perspective, Abercrombie & Fitch (ANF - Free Report) is looking like an interesting pick, as it just reached a key level of support. ANF recently overtook the 20-day moving average, and this suggests 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.
ANF has rallied 9.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests ANF could be on the verge of another move higher.
The bullish case solidifies once investors consider ANF'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 ANF 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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