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Datadog (DDOG) Recently Broke Out Above the 50-Day Moving Average
Datadog (DDOG - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DDOG broke out above the 50-day moving average, suggesting a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
DDOG has rallied 13.5% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests DDOG could be on the verge of another move higher.
Looking at DDOG's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 14 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting DDOG on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.