Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5979
    -0.0026 (-0.44%)
     
  • NZD/EUR

    0.5537
    -0.0005 (-0.10%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    82.63
    +1.28 (+1.57%)
     
  • GOLD

    2,236.40
    +23.70 (+1.07%)
     
  • NASDAQ

    18,260.00
    -20.84 (-0.11%)
     
  • FTSE

    7,965.58
    +33.60 (+0.42%)
     
  • Dow Jones

    39,781.74
    +21.66 (+0.05%)
     
  • DAX

    18,496.81
    +19.72 (+0.11%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • NZD/JPY

    90.4440
    -0.3360 (-0.37%)
     

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

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.

ADVERTISEMENT

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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Campbell Soup Company (CPB) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research