Roku (ROKU) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Roku (ROKU) is looking like an interesting pick, as it just reached a key level of support. ROKU recently overtook the 50-day moving average, and this suggests 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, ROKU has gained 15.8%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.Once investors consider ROKU'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 10 higher, and the consensus estimate has increased as well.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ROKU for more gains in the near future.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks