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 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.
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.
Looking at DECK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. 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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