DNOW (DNOW) Crossed Above the 20-Day Moving Average: What That Means for Investors

Technical Analysis - DNOW has recently reached a key level of support and has overtaken the 20-day moving average, indicating a short-term bullish trend [1] - The 20-day simple moving average is favored by traders as it smooths out price fluctuations and provides trend reversal signals [2] Performance Metrics - Over the past four weeks, DNOW shares have increased by 5.6% [4] - The company currently holds a Zacks Rank 2 (Buy), suggesting potential for continued price appreciation [4] Earnings Estimates - There have been two upward revisions in earnings estimates for the current fiscal year, with no downward revisions, leading to an increase in the consensus estimate [4] - The positive revisions in earnings estimates strengthen the bullish outlook for DNOW [4] Investment Consideration - Given the technical indicators and positive earnings estimate revisions, DNOW is recommended for inclusion on investors' watchlists [5]