Dick's Sporting Goods (DKS - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DKS 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.
DKS could be on the verge of another rally after moving 8.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Once investors consider DKS's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on DKS for more gains in the near future.
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Dick's Sporting Goods (DKS - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DKS 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.
DKS could be on the verge of another rally after moving 8.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
Once investors consider DKS's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on DKS for more gains in the near future.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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