DNOW (DNOW) Crossed Above the 200-Day Moving Average: What That Means for Investors

Core Viewpoint - DNOW (DNOW) has reached a significant support level and shows potential for investors from a technical perspective, having recently broken through the 200-day moving average, indicating a long-term bullish trend [1]. Technical Analysis - The 200-day simple moving average is a valuable tool for establishing long-term market trends for various financial instruments, including stocks [2]. - Over the past four weeks, DNOW has gained 9.7%, and it is currently ranked as a Zacks Rank 1 (Strong Buy), suggesting further upward movement for the stock [2]. Earnings Estimates - Recent earnings estimate revisions for DNOW show one upward revision compared to no downward revisions for the current fiscal year, with the consensus estimate also moving up [3]. - The combination of positive earnings estimate revisions and favorable technical indicators suggests that DNOW may present additional gains for investors in the near future [3].