Pan American Silver (PAAS) Recently Broke Out Above the 50-Day Moving Average
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After reaching an important support level, Pan American Silver (PAAS) could be a good stock pick from a technical perspective. PAAS surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.PAAS could be on the verge of another rally after moving 7.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case solidifies once investors consider PAAS's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.Investors should think about putting PAAS on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>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 Pan American Silver Corp. (PAAS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks