Amphenol (APH) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, APH broke out above 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.
Over the past four weeks, APH has gained 8.5%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
Once investors consider APH's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, and the consensus estimate has increased as well.
Investors should think about putting APH on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Amphenol Corporation (APH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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