Comfort Systems (FIX) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Comfort Systems (FIX) is looking like an interesting pick, as it just reached a key level of support. FIX recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

FIX has rallied 9.9% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests FIX could be on the verge of another move higher.

The bullish case solidifies once investors consider FIX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 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 FIX for more gains in the near future.

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This article originally published on Zacks Investment Research (zacks.com).

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