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I like to see estimates raised not only for the current quarter but also for the current fiscal year. Studies have shown that when estimates are revised upward by 5 percent or more, stocks tend to show better-than-average performance. Conversely, with downward revisions of 5 percent or more, stocks exhibit lower than average performance.
Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market: How to Achieve Superperformance in Stocks in Any Market
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