Moving Average Crossover: Great News for HDFC Bank (HDB)?

Zacks Equity Research

Thu, Mar 20, 2014, 7:38 AM

HDFC Bank Limited (HDB) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for HDB broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.

This has already started to take place, as the stock has moved higher by 14.9% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.

HDFC BANK LTD (HDB): Free Stock Analysis Report

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Moving Average Crossover: Great News for HDFC Bank (HDB)?

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