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Expeditors International (EXPD) Crossed Above the 50-Day Moving Average: What That Means for Investors

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From a technical perspective, Expeditors International (EXPD - Free Report) is looking like an interesting pick, as it just reached a key level of support. EXPD recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

Shares of EXPD have been moving higher over the past four weeks, up 7%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that EXPD could be poised for a continued surge.

Looking at EXPD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on EXPD for more gains in the near future.

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