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Idexx Laboratories (IDXX) Crossed Above the 50-Day Moving Average: What That Means for Investors

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Idexx Laboratories (IDXX) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, IDXX broke out above the 50-day moving average, suggesting 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.

Moving Average Chart for IDXX
Moving Average Chart for IDXX

IDXX could be on the verge of another rally after moving 6.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Looking at IDXX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, 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 IDXX for more gains in the near future.


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