After reaching an important support level, Shake Shack (SHAK - Free Report) could be a good stock pick from a technical perspective. SHAK surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
SHAK could be on the verge of another rally after moving 20.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at SHAK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 12 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on SHAK for more gains in the near future.
4 Oil Stocks with Massive Upsides
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After reaching an important support level, Shake Shack (SHAK - Free Report) could be a good stock pick from a technical perspective. SHAK surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
SHAK could be on the verge of another rally after moving 20.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at SHAK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 12 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on SHAK for more gains in the near future.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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