Back to top

Image: Bigstock

Brooks Automation (BRKS) Crossed Above the 50-Day Moving Average: What That Means for Investors

Read MoreHide Full Article

From a technical perspective, Brooks Automation (BRKS - Free Report) is looking like an interesting pick, as it just reached a key level of support. BRKS recently overtook the 50-day moving average, and this suggests 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.

BRKS could be on the verge of another rally after moving 10.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Once investors consider BRKS's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 4 higher, and the consensus estimate has increased as well.

Investors may want to watch BRKS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Brooks Automation, Inc. (BRKS) - free report >>

Published in