Celestica (CLS) Just Overtook the 50-Day Moving Average

From a technical perspective, Celestica (CLS) is looking like an interesting pick, as it just reached a key level of support. CLS recently overtook the 50-day moving average, and this suggests a short-term bullish trend.The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.CLS has rallied 28.9% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests CLS could be on the verge of another move higher.The bullish case only gets stronger once investors take into account CLS's positive earnings estimate revisions. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Investors may want to watch CLS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Celestica, Inc. (CLS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks