U.S. markets close in 3 hours 43 minutes
  • S&P 500

    3,765.89
    -59.44 (-1.55%)
     
  • Dow 30

    30,510.90
    -586.36 (-1.89%)
     
  • Nasdaq

    11,092.51
    -35.33 (-0.32%)
     
  • Russell 2000

    1,707.47
    -20.29 (-1.17%)
     
  • Crude Oil

    99.32
    -9.11 (-8.40%)
     
  • Gold

    1,767.70
    -33.80 (-1.88%)
     
  • Silver

    19.11
    -0.56 (-2.83%)
     
  • EUR/USD

    1.0242
    -0.0183 (-1.75%)
     
  • 10-Yr Bond

    2.7850
    -0.1040 (-3.60%)
     
  • GBP/USD

    1.1908
    -0.0196 (-1.62%)
     
  • USD/JPY

    135.7880
    +0.1280 (+0.09%)
     
  • BTC-USD

    19,540.32
    -258.36 (-1.30%)
     
  • CMC Crypto 200

    423.00
    -17.02 (-3.87%)
     
  • FTSE 100

    7,025.47
    -207.18 (-2.86%)
     
  • Nikkei 225

    26,423.47
    +269.66 (+1.03%)
     

Louisiana-Pacific (LPX) Recently Broke Out Above the 200-Day Moving Average

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

After reaching an important support level, Louisiana-Pacific (LPX) could be a good stock pick from a technical perspective. LPX surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.

Over the past four weeks, LPX has gained 7.1%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider LPX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on LPX 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
 
LouisianaPacific Corporation (LPX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research