Silicon Motion Technology Corporation (SIMO) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for SIMO broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.
This has already started to take place, as the stock has moved higher by 6.3% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.
More bullishness may especially be the case when investors consider what has been happening for SIMO on the earnings estimate revision front lately. One estimate has gone lower in the past two months, compared to 6 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Silicon Motion Technology Corporation (SIMO) : Free Stock Analysis Report
To read this article on Zacks.com click here.