Echo Global Logistics, Inc. (ECHO) may be a solid choice for technical investors, as the firm saw some good news with its moving average crossover. ECHO just saw its 50 Day Moving Average break out above its 200 Day Simple Moving Average, meaning that there could be some short-term bullishness for the stock.
You could definitely argue that this has already started to take place, as shares of ECHO have jumped by 7.7% in the trailing 4 weeks. If that wasn’t enough, the company currently possesses a Zacks Rank #2 (Buy), so it could have more room to run in the weeks ahead too.
More bullishness may especially be the case when investors consider what has been happening for ECHO on the earnings estimate revision front lately. No estimates have gone lower in the past two months, compared to 4 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.
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