Moving Average Crossover Warning: Ingevity

Ingevity Companies NGVT seems to be an interesting pick from a technical perspective as the company is seeing favorable trends on the crossover front of the moving averages. Recently, the 50-day moving average for NGVT has risen above the 200-day moving average, suggesting a short-term uptrend.

This has already started to happen, as the stock is up 29.8% over the past four weeks. Additionally, the company currently has a Zacks Rank #1 (Strong Buy), suggesting that now could definitely be the time for this breakout candidate.

Investors may become even more optimistic when they consider what has happened recently with earnings estimate revisions for NGVT. One forecast has declined in the past two months, while four forecasts have increased. The consensus estimate has also increased.

Given this estimate move and positive technical factors, investors should closely monitor this breakout candidate in the near term for further gains. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Ingevity Corporation (NGVT): Free Stock Analysis Report

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