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Wesco International (WCC) Crossed Above the 50-Day Moving Average: What That Means for Investors

Wesco International (WCC) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, WCC broke out above the 50-day moving average, suggesting 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.

WCC could be on the verge of another rally after moving 12.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Once investors consider WCC'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 3 higher, and the consensus estimate has increased as well.

Investors should think about putting WCC on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


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