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Delta Apparel (DLA) Just Reclaimed the 200-Day Moving Average
From a technical perspective, Delta Apparel (DLA - Free Report) is looking like an interesting pick, as it just reached a key level of support. DLA recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
Over the past four weeks, DLA has gained 7.8%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
The bullish case solidifies once investors consider DLA's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.
Investors may want to watch DLA for more gains in the near future given the company's key technical level and positive earnings estimate revisions.