Itron (ITRI) Recently Broke Out Above the 20-Day Moving Average

From a technical perspective, Itron (ITRI) is looking like an interesting pick, as it just reached a key level of support. ITRI recently overtook the 20-day moving average, and this suggests a short-term bullish trend.A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.ITRI has rallied 14.4% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests ITRI could be on the verge of another move higher.The bullish case solidifies once investors consider ITRI's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 8 higher, while the consensus estimate has increased too.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ITRI for more gains in the near future.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Itron, Inc. (ITRI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks