Yahoo Finance Haemonetics (HAE) Crossed Above the 200-Day Moving Average: What That Means for Investors
After reaching an important support level, Haemonetics (HAE) could be a good stock pick from a technical perspective. HAE surpassed resistance at the 200-day moving average, suggesting 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.
Over the past four weeks, HAE has gained 17%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Once investors consider HAE's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, and the consensus estimate has increased as well.
Investors should think about putting HAE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Haemonetics Corporation (HAE) : Free Stock Analysis Report
