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Alpha and Omega Semiconductor Limited (AOSL) - free report >>
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Alpha and Omega Semiconductor Limited (AOSL) - free report >>
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Alpha and Omega Semiconductor (AOSL) Crossed Above the 50-Day Moving Average: What That Means for Investors
From a technical perspective, Alpha and Omega Semiconductor (AOSL - Free Report) is looking like an interesting pick, as it just reached a key level of support. AOSL recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
AOSL could be on the verge of another rally after moving 13% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
The bullish case only gets stronger once investors take into account AOSL'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.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on AOSL for more gains in the near future.