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Dick's Sporting Goods (DKS) Just Reclaimed the 50-Day Moving Average
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.