Canadian Solar (CSIQ) Just Overtook the 20-Day Moving Average
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After reaching an important support level, Canadian Solar (CSIQ) could be a good stock pick from a technical perspective. CSIQ surpassed resistance at the 20-day moving average, suggesting 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.Over the past four weeks, CSIQ has gained 54.2%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.The bullish case only gets stronger once investors take into account CSIQ's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch CSIQ for more gains in the near future given the company's key technical level and positive earnings estimate revisions.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>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 Canadian Solar Inc. (CSIQ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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Quelle: Zacks