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Can the Uptrend Continue for Encore Wire Corp (WIRE)?

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·1 min read
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As of late, it has definitely been a great time to be an investor of Encore Wire Corporation WIRE. The stock has moved higher by 21.1% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.

We certainly think that this might be the case, particularly if you consider WIRE’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as WIRE has earned itself a Zacks Rank #1 (Strong Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company. You can see the complete list of today’s Zacks #1 Rank stocks here.

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