Datadog (DDOG - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, DDOG broke through the 50-day moving average, which suggests 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.
Shares of DDOG have been moving higher over the past four weeks, up 9.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DDOG could be poised for a continued surge.
Once investors consider DDOG'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 8 higher, and the consensus estimate has increased as well.
Investors may want to watch DDOG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Datadog (DDOG - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, DDOG broke through the 50-day moving average, which suggests 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.
Shares of DDOG have been moving higher over the past four weeks, up 9.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DDOG could be poised for a continued surge.
Once investors consider DDOG'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 8 higher, and the consensus estimate has increased as well.
Investors may want to watch DDOG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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