Ultra Clean Holdings (UCTT) Crossed Above the 200-Day Moving Average: What That Means for Investors
From a technical perspective, Ultra Clean Holdings (UCTT) is looking like an interesting pick, as it just reached a key level of support. UCTT recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of UCTT have been moving higher over the past four weeks, up 19.9%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that UCTT could be poised for a continued surge.
Once investors consider UCTT's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on UCTT for more gains in the near future.
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Ultra Clean Holdings, Inc. (UCTT) : Free Stock Analysis Report
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