Idexx Laboratories (IDXX) Just Flashed Golden Cross Signal: Do You Buy?

Idexx Laboratories (IDXX) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, IDXX broke through the 20-day moving average, which suggests 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.IDXX could be on the verge of another rally after moving 15.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.Once investors consider IDXX's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on IDXX for more gains in the near future.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 IDEXX Laboratories, Inc. (IDXX): 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