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Moving Average Chart for ASML <\/p>\nASML (ASML) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ASML broke through the 20-day moving average, which suggests a short-term bullish trend.<\/p>\n
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock’s price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.<\/p>\n
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock’s price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.<\/p>\n
Moving Average Chart for ASML <\/p>\n
ASML could be on the verge of another rally after moving 9.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.<\/p>\n
The bullish case only gets stronger once investors take into account ASML’s positive earnings estimate revisions. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.<\/p>\n
Investors should think about putting ASML on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.<\/p>\n
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report<\/a><\/p>\n ASML Holding N.V. (ASML) : Free Stock Analysis Report<\/a><\/p>\n This article originally published on Zacks Investment Research (zacks.com).<\/a><\/p>\n