Axcelis Technologies (ACLS) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Axcelis Technologies (ACLS) is looking like an interesting pick, as it just reached a key level of support. ACLS 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.ACLS could be on the verge of another rally after moving 7.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case solidifies once investors consider ACLS'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 ACLS 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 "2nd Wave" AI stocks now >>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 Axcelis Technologies, Inc. (ACLS): 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