From a technical perspective, Idexx Laboratories (IDXX) is looking like an interesting pick, as it just reached a key level of support. IDXX recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
IDXX could be on the verge of another rally after moving 15.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at IDXX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch IDXX for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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