Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Sinclair (SBGI) Recently Broke Out Above the 200-Day Moving Average
Sinclair (SBGI - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SBGI crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
Over the past four weeks, SBGI has gained 39.9%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Once investors consider SBGI'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.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on SBGI for more gains in the near future.