After reaching an important support level, Ford Motor Company (F) could be a good stock pick from a technical perspective. F surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of F have been moving higher over the past four weeks, up 9%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that F could be poised for a continued surge.
The bullish case solidifies once investors consider F's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.
Investors should think about putting F on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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