Air Products and Chemicals (APD) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, APD broke through the 200-day moving average, which suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
Shares of APD have been moving higher over the past four weeks, up 7.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that APD could be poised for a continued surge.
Looking at APD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on APD for more gains in the near future.
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Air Products and Chemicals, Inc. (APD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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