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Embecta Corp. (EMBC) Just Overtook the 200-Day Moving Average
From a technical perspective, Embecta Corp. (EMBC - Free Report) is looking like an interesting pick, as it just reached a key level of support. EMBC recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
EMBC could be on the verge of another rally after moving 16.9% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
The bullish case only gets stronger once investors take into account EMBC's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch EMBC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.