-
AAPL
Apple
-
#1
-
NVDA
NVIDIA
-
#2
-
MU
Micron Technology
-
#3
-
SNDK
Sandisk Corporation
-
#4
-
SPCX
Space Exploration Technologies Corp.
-
#5
-
PLTR
Palantir Technologies
-
#6
-
AMD
Advanced Micro Devices
-
#7

Image: Bigstock
DoorDash, Inc. (DASH) Just Overtook the 20-Day Moving Average
From a technical perspective, DoorDash, Inc. (DASH - Free Report) is looking like an interesting pick, as it just reached a key level of support. DASH recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, DASH has gained 18.9%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account DASH's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on DASH for more gains in the near future.