From a technical perspective, Crocs (CROX) is looking like an interesting pick, as it just reached a key level of support. CROX recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, CROX has gained 14%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Looking at CROX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch CROX for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Crocs, Inc. (CROX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
