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Skyline (SKY) Just Reclaimed the 200-Day Moving Average
Skyline (SKY - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SKY crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
SKY has rallied 10.1% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests SKY could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account SKY's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, 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 SKY for more gains in the near future.