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Cactus, Inc. (WHD) Crossed Above the 200-Day Moving Average: What That Means for Investors
After reaching an important support level, Cactus, Inc. (WHD - Free Report) could be a good stock pick from a technical perspective. WHD surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of WHD have been moving higher over the past four weeks, up 17.7%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that WHD could be poised for a continued surge.
The bullish case only gets stronger once investors take into account WHD's positive earnings estimate revisions. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting WHD on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.