We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Hewlett Packard Enterprise (HPE) Crossed Above the 20-Day Moving Average: What That Means for Investors
Read MoreHide Full Article
From a technical perspective, Hewlett Packard Enterprise (HPE - Free Report) is looking like an interesting pick, as it just reached a key level of support. HPE recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows 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.
Shares of HPE have been moving higher over the past four weeks, up 12.3%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that HPE could be poised for a continued surge.
The bullish case only gets stronger once investors take into account HPE's positive earnings estimate revisions. There have been 3 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 HPE for more gains in the near future.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Hewlett Packard Enterprise (HPE) Crossed Above the 20-Day Moving Average: What That Means for Investors
From a technical perspective, Hewlett Packard Enterprise (HPE - Free Report) is looking like an interesting pick, as it just reached a key level of support. HPE recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows 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.
Shares of HPE have been moving higher over the past four weeks, up 12.3%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that HPE could be poised for a continued surge.
The bullish case only gets stronger once investors take into account HPE's positive earnings estimate revisions. There have been 3 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 HPE for more gains in the near future.