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Ultra Clean Holdings (UCTT) Recently Broke Out Above the 20-Day Moving Average

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Ultra Clean Holdings (UCTT - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, UCTT crossed above the 20-day moving average, suggesting 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.

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.

Moving Average Chart for UCTT

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.

The bullish case only gets stronger once investors take into account UCTT's positive earnings estimate revisions. There have been 1 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 UCTT for more gains in the near future.


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