Itron (ITRI) Recently Broke Out Above the 200-Day Moving Average

Itron (ITRI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ITRI broke through the 200-day moving average, which suggests 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 ITRI have been moving higher over the past four weeks, up 9.9%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that ITRI could be poised for a continued surge.The bullish case only gets stronger once investors take into account ITRI's positive earnings estimate revisions. There have been 7 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Investors may want to watch ITRI for more gains in the near future given the company's key technical level and positive earnings estimate revisions.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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks