From a technical perspective, Aecom Technology (ACM) is looking like an interesting pick, as it just reached a key level of support. ACM recently overtook the 200-day moving average, and this 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 ACM have been moving higher over the past four weeks, up 12%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that ACM could be poised for a continued surge.
The bullish case solidifies once investors consider ACM's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors should think about putting ACM on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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
AECOM (ACM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
