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Moving Average Crossover Alert: New York Community Bancorp (NYCB)

Zacks Equity Research
·2 min read

New York Community Bancorp, Inc. NYCB is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for NYCB broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.

This has already started to take place, as the stock has moved higher by 6.9% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.

More bullishness may especially be the case when investors consider what has been happening for NYCB on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 6 higher, while the consensus estimate has also moved higher too.

So, given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

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You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>


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