SkyWest (SKYW) Recently Broke Out Above the 200-Day Moving Average

After reaching an important support level, SkyWest (SKYW) could be a good stock pick from a technical perspective. SKYW surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.Shares of SKYW have been moving higher over the past four weeks, up 6.2%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that SKYW could be poised for a continued surge.The bullish case only gets stronger once investors take into account SKYW's positive earnings estimate revisions. There have been 3 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on SKYW 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 SkyWest, Inc. (SKYW): 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