Amkor Technology (AMKR) Recently Broke Out Above the 20-Day Moving Average

Amkor Technology (AMKR) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AMKR broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.AMKR could be on the verge of another rally after moving 5.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case solidifies once investors consider AMKR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 4 higher, while the consensus estimate has increased too.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on AMKR for more gains in the near future.Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amkor Technology, Inc. (AMKR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks