Consolidated Edison (ED) Just Overtook the 200-Day Moving Average

From a technical perspective, Consolidated Edison (ED) is looking like an interesting pick, as it just reached a key level of support. ED recently overtook the 200-day moving average, and this suggests a long-term bullish trend.The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.Shares of ED have been moving higher over the past four weeks, up 6.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that ED could be poised for a continued surge.Looking at ED's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Investors should think about putting ED on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant 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 Consolidated Edison Inc (ED): 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