Synchronoss (SNCR) Just Reclaimed the 200-Day Moving Average
From a technical perspective, Synchronoss (SNCR) is looking like an interesting pick, as it just reached a key level of support. SNCR recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
SNCR has rallied 74.2% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests SNCR could be on the verge of another move higher.
The bullish case solidifies once investors consider SNCR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.
Investors may want to watch SNCR for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Synchronoss Technologies, Inc. (SNCR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
