Advertisement
New Zealand markets closed

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NZD/USD

    0.5892
    -0.0013 (-0.22%)
     

  • NZD/EUR

    0.5523
    -0.0022 (-0.39%)
     

  • ALL ORDS

    7,817.40
    -81.50 (-1.03%)
     

  • ASX 200

    7,567.30
    -74.80 (-0.98%)
     

  • OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD

    2,406.70
    +8.70 (+0.36%)
     

  • NASDAQ

    17,037.65
    -356.67 (-2.05%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • Dow Jones

    37,986.40
    +211.02 (+0.56%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • NZD/JPY

    91.0710
    -0.1830 (-0.20%)
     

Moving Average Crossover Alert: Luxoft Holding

Zacks
Natural Resource Partners' (NRP) decision to monetize construction aggregates business segment is likely to lower the firm's debt-level and improve its liquidity position.

Luxoft Holding, Inc. LXFT could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for LXFT broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 2.8% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for LXFT stock.

If that wasn’t enough, LXFT isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

ADVERTISEMENT

Consider that in the last 30 days, 3 estimates have been reduced, while 1 has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So, either avoid this stock or consider jumping ship until the estimates and technical factors turn around for LXFT. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


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
 
Luxoft Holding, Inc. (LXFT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research