Winnebago Industries (WGO) Just Overtook the 50-Day Moving Average
From a technical perspective, Winnebago Industries (WGO) is looking like an interesting pick, as it just reached a key level of support. WGO recently overtook the 50-day moving average, and this suggests 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.
WGO has rallied 7.9% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests WGO could be on the verge of another move higher.
Looking at WGO's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 6 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 WGO for more gains in the near future.
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