Zscaler (ZS) Recently Broke Out Above the 50-Day Moving Average

Zscaler (ZS) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ZS 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.ZS could be on the verge of another rally after moving 9.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.The bullish case solidifies once investors consider ZS's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.Investors should think about putting ZS on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.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