Camtek (CAMT - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CAMT crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of CAMT have been moving higher over the past four weeks, up 7.2%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that CAMT could be poised for a continued surge.
The bullish case only gets stronger once investors take into account CAMT's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch CAMT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Camtek (CAMT - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CAMT crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of CAMT have been moving higher over the past four weeks, up 7.2%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that CAMT could be poised for a continued surge.
The bullish case only gets stronger once investors take into account CAMT's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch CAMT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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