Moving Average Crossover Alert: Methanex Corp (MEOH)
Methanex Corporation MEOH 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 MEOH 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 18.3% 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.
More bullishness may especially be the case when investors consider what has been happening for MEOH on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 2 higher, while the consensus estimate has also moved higher too.
So, given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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
Methanex Corporation (MEOH): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.