Yahoo Finance BorgWarner (BWA) Recently Broke Out Above the 50-Day Moving Average
From a technical perspective, BorgWarner (BWA) is looking like an interesting pick, as it just reached a key level of support. BWA recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
Shares of BWA have been moving higher over the past four weeks, up 6.9%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that BWA could be poised for a continued surge.
Once investors consider BWA's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, and the consensus estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on BWA for more gains in the near future.
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BorgWarner Inc. (BWA) : Free Stock Analysis Report
