Deckers (DECK) Recently Broke Out Above the 50-Day Moving Average

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, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

Shares of DECK have been moving higher over the past four weeks, up 6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that DECK could be poised for a continued surge.

The bullish case only gets stronger once investors take into account DECK's positive earnings estimate revisions. There have been 8 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on DECK for more gains in the near future.

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This article originally published on Zacks Investment Research (zacks.com).

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