If history is any guide, there may be trouble ahead for shares of Nutrien (NYSE:NTR). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.
The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Nutrien, which is trading around $84.59 at publication time.
Remember: Seasoned investors don't blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible short positions.
With that in mind, take a look at Nutrien's past and upcoming earnings expectations:
EPS Estimate | 5.80 | 2.73 | 2.36 | 1.22 | 0.29 |
EPS Actual | 5.85 | 2.70 | 2.47 | 1.38 | 2.08 |
Revenue Estimate | 14.93B | 7.62B | 6.52B | 5.59B | 3.99B |
Revenue Actual | 14.51B | 7.66B | 7.27B | 6.02B | 9.76B |
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