From a technical perspective, Deckers (DECK) is looking like an interesting pick, as it just reached a key level of support. DECK recently overtook the 50-day moving average, and this 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.
DECK has rallied 11.8% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests DECK could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account DECK's positive earnings estimate revisions. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch DECK for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Deckers Outdoor Corporation (DECK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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