Casella (CWST) Recently Broke Out Above the 20-Day Moving Average
Casella (CWST) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CWST crossed above the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Shares of CWST have been moving higher over the past four weeks, up 10.5%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that CWST could be poised for a continued surge.
The bullish case only gets stronger once investors take into account CWST's positive earnings estimate revisions. There have been 4 revisions higher for the current fiscal year compared to none lower, 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 CWST for more gains in the near future.
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
Casella Waste Systems, Inc. (CWST) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
