ASML (ASML) Just Overtook the 50-Day Moving Average

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.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.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.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.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.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks