Benzinga - If history is any guide, there may be trouble ahead for shares of Allstate (NYSE:ALL). 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 Allstate, which is trading around $107.36 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 Allstate's past and upcoming earnings expectations:
QuarterQ4 2022Q3 2022Q2 2022Q1 2022EPS Estimate | -1.36 | -1.52 | -1.30 | 2.92 |
EPS Actual | -1.36 | -1.56 | -0.76 | 2.58 |
Revenue Estimate | 11.43B | 12.03B | 11.11B | 10.30B |
Revenue Actual | 11.48B | 12.04B | 11.51B | 10.76B |
Also consider this overview of Allstate analyst ratings:
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
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