Brunswick (BC) Just Overtook the 50-Day Moving Average
Brunswick (BC) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, BC broke through the 50-day moving average, which suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
Shares of BC have been moving higher over the past four weeks, up 7.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that BC could be poised for a continued surge.
Once investors consider BC'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 1 higher, and the consensus estimate has increased as well.
Investors may want to watch BC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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