Booz Allen Hamilton (BAH) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, BAH crossed above the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
BAH has rallied 19.7% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests BAH could be on the verge of another move higher.
Once investors consider BAH's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on BAH for more gains in the near future.
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Booz Allen Hamilton Holding Corporation (BAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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