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Embecta Corp. (EMBC) Crossed Above the 200-Day Moving Average: What That Means for Investors
Embecta Corp. (EMBC - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, EMBC crossed above 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 EMBC have been moving higher over the past four weeks, up 8.9%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that EMBC could be poised for a continued surge.
Looking at EMBC's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting EMBC on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.