From a technical perspective, Ollie's Bargain Outlet (OLLI - Free Report) is looking like an interesting pick, as it just reached a key level of support. OLLI recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, 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.
OLLI has rallied 6.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests OLLI could be on the verge of another move higher.
Looking at OLLI's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on OLLI for more gains in the near future.
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One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
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From a technical perspective, Ollie's Bargain Outlet (OLLI - Free Report) is looking like an interesting pick, as it just reached a key level of support. OLLI recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, 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.
OLLI has rallied 6.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests OLLI could be on the verge of another move higher.
Looking at OLLI's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on OLLI for more gains in the near future.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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