The AZEK Company (AZEK) Just Reclaimed the 50-Day Moving Average
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The AZEK Company (AZEK) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AZEK broke through the 50-day moving average, which suggests a short-term bullish trend.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.Shares of AZEK have been moving higher over the past four weeks, up 6.6%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that AZEK could be poised for a continued surge.Looking at AZEK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 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 AZEK for more gains in the near future.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 The AZEK Company Inc. (AZEK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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Quelle: Zacks
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