Datadog (DDOG) Just Overtook the 50-Day Moving Average
Datadog (DDOG) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, DDOG broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.
Shares of DDOG have been moving higher over the past four weeks, up 8.9%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DDOG could be poised for a continued surge.
The bullish case only gets stronger once investors take into account DDOG's positive earnings estimate revisions. There have been 13 higher compared to none lower for the current fiscal year, 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 DDOG for more gains in the near future.
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Datadog, Inc. (DDOG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
