After reaching an important support level, NXP Semiconductors (NXPI - Free Report) could be a good stock pick from a technical perspective. NXPI surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
NXPI could be on the verge of another rally after moving 7.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Once investors consider NXPI'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 12 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 NXPI for more gains in the near future.
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After reaching an important support level, NXP Semiconductors (NXPI - Free Report) could be a good stock pick from a technical perspective. NXPI surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
NXPI could be on the verge of another rally after moving 7.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Once investors consider NXPI'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 12 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 NXPI for more gains in the near future.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on NXPI - FREE