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Hecla Mining (HL) Just Flashed Golden Cross Signal: Do You Buy?
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From a technical perspective, Hecla Mining (HL - Free Report) is looking like an interesting pick, as it just reached a key level of support. HL recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of HL have been moving higher over the past four weeks, up 8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that HL could be poised for a continued surge.
The bullish case only gets stronger once investors take into account HL's positive earnings estimate revisions. There have been 2 revisions higher for the current fiscal year compared to none lower, 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 HL for more gains in the near future.
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Hecla Mining (HL) Just Flashed Golden Cross Signal: Do You Buy?
From a technical perspective, Hecla Mining (HL - Free Report) is looking like an interesting pick, as it just reached a key level of support. HL recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of HL have been moving higher over the past four weeks, up 8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that HL could be poised for a continued surge.
The bullish case only gets stronger once investors take into account HL's positive earnings estimate revisions. There have been 2 revisions higher for the current fiscal year compared to none lower, 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 HL for more gains in the near future.