Crane Holdings (CR) Surges Over 5.1%

NYSE:CR   Crane Company
Crane Holdings (CR) shares rallied 5.1% in the last trading session to close at $117.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.7% loss over the past four weeks.

The stock gained primarily on optimism surrounding easing supply chain disruptions and, reduction in raw material costs owing to deceleration in inflation.

This maker of engineered industrial products is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of +4.4%. Revenues are expected to be $808.77 million, up 1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

Technical Analysis
The technical indicators for the stock show mixed signals. The moving averages indicate a bullish trend, as the stock is trading above its 50-day, 100-day, and 200-day moving averages. The relative strength index (RSI) shows that the stock is neither overbought nor oversold, with a value of 53.793. The MACD oscillator shows a bearish signal, as the MACD line is below the signal line and the histogram is negative3. The stochastic oscillator shows a neutral signal, as the %K line is below the %D line, but both are near the middle of the range.

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