Iamgold (IAG) Just Overtook the 20-Day Moving Average
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Iamgold (IAG) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, IAG broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows 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.IAG could be on the verge of another rally after moving 12% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case only gets stronger once investors take into account IAG's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors should think about putting IAG on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>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 Iamgold Corporation (IAG): 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