Yahoo Finance Chemours (CC) Recently Broke Out Above the 20-Day Moving Average
From a technical perspective, Chemours (CC) is looking like an interesting pick, as it just reached a key level of support. CC recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, CC has gained 42.4%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account CC's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch CC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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The Chemours Company (CC) : Free Stock Analysis Report
