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Datadog (DDOG) Just Overtook the 200-Day Moving Average
From a technical perspective, Datadog (DDOG - Free Report) is looking like an interesting pick, as it just reached a key level of support. DDOG recently overtook the 200-day moving average, and this suggests 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 DDOG have been moving higher over the past four weeks, up 11.5%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that DDOG could be poised for a continued surge.
The bullish case solidifies once investors consider DDOG's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.
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.