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From a technical perspective, NXP Semiconductors (NXPI) is looking like an interesting pick, as it just reached a key level of support. NXPI recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
NXPI could be on the verge of another rally after moving 7.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Looking at NXPI's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 12 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on NXPI for more gains in the near future.
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NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report
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