Cooper Tire & Rubber Company could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for CTB broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 12.8% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for CTB stock.
If that wasn’t enough, CTB isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 5 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So, either avoid this stock or consider jumping ship until the estimates and technical factors turn around for CTB. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Moving Average Crossover Alert: Cooper Tire & Rubber
Cooper Tire & Rubber Company could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for CTB broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 12.8% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for CTB stock.
If that wasn’t enough, CTB isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 5 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So, either avoid this stock or consider jumping ship until the estimates and technical factors turn around for CTB. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>