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DuPont de Nemours (DD) Crossed Above the 200-Day Moving Average: What That Means for Investors
DuPont de Nemours (DD - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DD crossed above the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
DD has rallied 7% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests DD could be on the verge of another move higher.
Looking at DD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 6 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on DD for more gains in the near future.