From a technical perspective, Juniper Networks (JNPR) is looking like an interesting pick, as it just reached a key level of support. JNPR 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.
JNPR has rallied 5.2% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests JNPR could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account JNPR's positive earnings estimate revisions. There have been 6 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on JNPR 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