Ubiquiti Inc. UI 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 UI 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 4.9% in the past four weeks. Plus, the company currently has a Zacks Rank #1 (Strong 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 UI on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 2 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.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Ubiquiti Inc. (UI) : Free Stock Analysis Report
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