Chemours (CC) Just Reclaimed the 50-Day Moving Average
From a technical perspective, Chemours (CC) is looking like an interesting pick, as it just reached a key level of support. CC recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
CC could be on the verge of another rally after moving 42.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Once investors consider CC's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, and the consensus estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CC for more gains in the near future.
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The Chemours Company (CC) : Free Stock Analysis Report
