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Can The Uptrend Continue for Ellie Mae (ELLI)?

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Investors certainly have to be happy with Ellie Mae, Inc. and its short term performance. After all, the stock has jumped by 26.5% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ELLI?

While we can never know for sure, it is pretty encouraging that estimates for ELLI have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #1 (Strong Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Hottest Tech Mega-Trend of All                

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

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