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Duolingo, Inc. (DUOL) Just Overtook the 200-Day Moving Average
After reaching an important support level, Duolingo, Inc. (DUOL - Free Report) could be a good stock pick from a technical perspective. DUOL surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
Shares of DUOL have been moving higher over the past four weeks, up 16.8%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that DUOL could be poised for a continued surge.
The bullish case only gets stronger once investors take into account DUOL's positive earnings estimate revisions. There have been 6 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch DUOL for more gains in the near future given the company's key technical level and positive earnings estimate revisions.