Canada Goose (GOOS) Hits 50-Day Moving Average: A Bullish Signal for Investors

Canada Goose (GOOS) is a promising investment from a technical perspective, as the company has reached a crucial level of support. Recently, GOOS has surpassed its 50-day moving average, indicating a mid-term bullish trend. The 50-day simple moving average is a popular trading tool that provides insight into a stock's price over a 50-day period. Mid-term traders find this SMA particularly beneficial as it smooths out mid-term price trends and shows more trend reversal signals than shorter-term moving averages. When a stock's price moves above the 50-day moving average, the trend is considered positive, while a fall below the moving average can signal a downward trend. In the case of GOOS, its recent move above the 50-day SMA solidifies the bullish case. GOOS has also seen positive earnings estimate revisions in the past three months, with no estimates going lower and two estimates increasing. The consensus estimate has also risen, further supporting the bullish case for the stock. Investors may want to keep an eye on GOOS for further gains in the near future, given its key technical level and positive earnings estimate revisions. If you're looking for the latest recommendations from Zacks Investment Research, you can download their 7 Best Stocks for the Next 30 Days report for free.