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DLocal (DLO) Crossed Above the 200-Day Moving Average: What That Means for Investors
After reaching an important support level, DLocal (DLO - Free Report) could be a good stock pick from a technical perspective. DLO surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of DLO have been moving higher over the past four weeks, up 18.3%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that DLO could be poised for a continued surge.
Looking at DLO's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on DLO for more gains in the near future.