FFrom a technical standpoint, Calix (CALX) seems like an interesting choice, as it has just reached a key support level. CALX recently broke the 50-day moving average, suggesting a near-term uptrend.
The 50-day simple moving average is one of the three main moving averages used by traders and analysts to determine support or resistance levels for a wide range of stocks. But the 50 days is considered more important because it is the first marker of an upward or downward trend.
CALX could be on the verge of another rally after rising 6.1% in the past four weeks. Additionally, the company is currently a Zacks Rank # 3 (Hold) stock.
The bullish case only gets stronger when investors factor in the positive revisions to CALX’s earnings estimates. There were 3 higher versus none lower for the current fiscal year, and the consensus estimate has also increased.
Investors may want to look at CALX for more gains in the near future given the company’s key technical level and positive revisions to earnings estimates.
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Calix, Inc (CALX): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.