American Woodmark (AMWD) Crossed Above the 50-Day Moving Average: What That Means for Investors
American Woodmark (AMWD) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, AMWD broke out above the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
Shares of AMWD have been moving higher over the past four weeks, up 14.9%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that AMWD could be poised for a continued surge.
Once investors consider AMWD's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, and the consensus estimate has increased as well.
Investors should think about putting AMWD on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Woodmark Corporation (AMWD) : Free Stock Analysis Report
