SkyWest (SKYW) Just Overtook the 20-Day Moving Average

Core Viewpoint - SkyWest (SKYW) has reached a significant support level and shows potential for investors from a technical perspective, having recently broken through the 20-day moving average, indicating a short-term bullish trend [1]. Technical Analysis - The 20-day simple moving average (SMA) is a popular trading tool that reflects a stock's price over a 20-day period, smoothing out short-term price trends and providing trend reversal signals [2]. - A stock's price above the 20-day moving average indicates a positive trend, while a price below suggests a downward trend [3]. Performance Metrics - SKYW shares have increased by 14.8% over the past four weeks, and the company holds a Zacks Rank 2 (Buy), indicating potential for continued growth [5]. - Positive earnings estimate revisions support the bullish outlook, with no estimates decreasing in the past two months and three estimates increasing, alongside a rise in the consensus estimate [5]. Investment Consideration - Given the important technical indicator and favorable earnings estimate revisions, SKYW should be considered for the watchlist by investors [6].