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Silica Holdings (SLCA) Recently Broke Out Above the 50-Day Moving Average
Silica Holdings is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SLCA broke out above the 50-day moving average, suggesting a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
SLCA could be on the verge of another rally after moving 22.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Looking at SLCA's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting SLCA on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.