SkyWest (SKYW) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SKYW crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
SKYW has rallied 5.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests SKYW could be on the verge of another move higher.
Looking at SKYW's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting SKYW on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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SkyWest, Inc. (SKYW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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