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Baxter International (BAX) Recently Broke Out Above the 200-Day Moving Average
From a technical perspective, Baxter International (BAX - Free Report) is looking like an interesting pick, as it just reached a key level of support. BAX recently overtook the 200-day moving average, and this suggests 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 BAX have been moving higher over the past four weeks, up 5.3%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that BAX could be poised for a continued surge.
Looking at BAX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 8 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting BAX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.