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DiamondRock Hospitality (DRH) Just Overtook the 200-Day Moving Average
DiamondRock Hospitality (DRH - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DRH 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.
Shares of DRH have been moving higher over the past four weeks, up 17.6%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that DRH could be poised for a continued surge.
Once investors consider DRH'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 4 higher, and the consensus estimate has increased as well.
Investors may want to watch DRH for more gains in the near future given the company's key technical level and positive earnings estimate revisions.