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Quest Diagnostics (DGX) Just Reclaimed the 200-Day Moving Average
After reaching an important support level, Quest Diagnostics (DGX - Free Report) could be a good stock pick from a technical perspective. DGX surpassed resistance at the 200-day moving average, suggesting 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.
Shares of DGX have been moving higher over the past four weeks, up 8.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DGX could be poised for a continued surge.
Looking at DGX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch DGX for more gains in the near future given the company's key technical level and positive earnings estimate revisions.