Bullish MACD for Silicon Motion – Tale of the Tape (SIMO)

Silicon Motion Technology Corp. (ADR)’s (SIMO) MACD indicator has entered into bullish territory with a reading of 0.2037. The Zacks #1 Rank (“Strong Buy”) stock increased more than 2% to $12.12 in afternoon trade. The Zacks Consensus Estimate for the year ending December 2011 has increased by 11 cents over the past two months to 74 cents per share.