NXP Semiconductors (NXPI) Just Overtook the 20-Day Moving Average

After reaching an important support level, NXP Semiconductors (NXPI) could be a good stock pick from a technical perspective. NXPI surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.Shares of NXPI have been moving higher over the past four weeks, up 10.6%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that NXPI could be poised for a continued surge.The bullish case only gets stronger once investors take into account NXPI's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch NXPI for more gains in the near future given the company's key technical level and positive earnings estimate revisions.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.SeeWant 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 NXP Semiconductors N.V. (NXPI): 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