ASML (ASML) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ASML broke out above the 50-day moving average, suggesting a short-term bullish trend.<\/p>\n
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it’s the first sign of an up or down trend, the 50-day is considered to be more important.<\/p>\n
Over the past four weeks, ASML has gained 9.2%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.<\/p>\n
The bullish case only gets stronger once investors take into account ASML’s positive earnings estimate revisions. There have been 7 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.<\/p>\n
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ASML for more gains in the near future.<\/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