The AZEK Company (AZEK) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AZEK broke through the 50-day moving average, which 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.
Shares of AZEK have been moving higher over the past four weeks, up 6.6%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that AZEK could be poised for a continued surge.
Looking at AZEK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on AZEK for more gains in the near future.
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