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Skyline (SKY) Just Reclaimed the 200-Day Moving Average
Skyline (SKY - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, SKY broke through the 200-day moving average, which suggests 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.
Over the past four weeks, SKY has gained 27.9%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Once investors consider SKY'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.
Investors may want to watch SKY for more gains in the near future given the company's key technical level and positive earnings estimate revisions.