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EnerSys (ENS) Crossed Above the 200-Day Moving Average: What That Means for Investors
From a technical perspective, EnerSys (ENS - Free Report) is looking like an interesting pick, as it just reached a key level of support. ENS recently overtook the 200-day moving average, and this suggests 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.
ENS could be on the verge of another rally after moving 11.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Looking at ENS'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.
Investors may want to watch ENS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.