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Campbell Soup (CPB) Just Reclaimed the 200-Day Moving Average

·1-min read

From a technical perspective, Campbell Soup (CPB) is looking like an interesting pick, as it just reached a key level of support. CPB recently overtook the 200-day moving average, and this suggests a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Over the past four weeks, CPB has gained 6.8%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider CPB's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 4 higher, while the consensus estimate has increased too.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on CPB for more gains in the near future.


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