Dick's Sporting Goods (DKS) Recently Broke Out Above the 20-Day Moving Average
From a technical perspective, Dick's Sporting Goods (DKS) is looking like an interesting pick, as it just reached a key level of support. DKS recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of DKS have been moving higher over the past four weeks, up 13.4%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DKS could be poised for a continued surge.
Once investors consider DKS's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 3 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors may want to watch DKS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report
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