The AZEK Company (AZEK) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, The AZEK Company (AZEK) is looking like an interesting pick, as it just reached a key level of support. AZEK 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.

AZEK could be on the verge of another rally after moving 5.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case solidifies once investors consider AZEK's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, while the consensus estimate has increased too.

Investors should think about putting AZEK on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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