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Ingevity (NGVT) Just Reclaimed the 200-Day Moving Average
Ingevity (NGVT - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, NGVT crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
NGVT has rallied 13.2% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests NGVT could be on the verge of another move higher.
Looking at NGVT'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.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on NGVT for more gains in the near future.