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Silica Holdings (SLCA) Just Overtook the 200-Day Moving Average

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From a technical perspective, Silica Holdings (SLCA - Free Report) is looking like an interesting pick, as it just reached a key level of support. SLCA recently overtook the 200-day moving average, and this suggests a long-term bullish trend.

A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.

SLCA has rallied 22.8% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests SLCA could be on the verge of another move higher.

Once investors consider SLCA'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 1 higher, and the consensus estimate has increased as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on SLCA for more gains in the near future.


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