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Cross Country Healthcare (CCRN) Crossed Above the 50-Day Moving Average: What That Means for Investors
Cross Country Healthcare (CCRN - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CCRN broke out above the 50-day moving average, suggesting a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
Over the past four weeks, CCRN has gained 33.1%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Looking at CCRN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, 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 CCRN for more gains in the near future.