Are you a technical investor? If so, it may be time to consider Standard Motor Products Inc.SMP for your portfolio. The company just saw its 50 Day Moving Average breakout above its 200 Day Simple moving average, a trend that could indicate some bullishness in the future for SMP.
This trend may have already begun, as shares of SMP have moved by higher by 5.6% in just the past month. Plus, SMP has earned itself a Zacks Rank #2 (Buy), so there is plenty of reason to believe that the run for Standard Motor has plenty of life left.
More bullishness may especially be the case when investors consider what has been happening for SMP on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 3 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.