If history is any guide, there may be good fortune ahead for shares of Erie Indemnity (NASDAQ:ERIE). A so-called "golden cross" has formed on its chart and, not surprisingly, this could be bullish 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 golden cross occurs when the 50-day crosses above the 200-day. This could mean the long-term trend is changing.
That just happened with Erie Indemnity, which is trading around $211.00 at publication time.
Remember: Seasoned investors don't blindly trade Golden Crosses.
Instead, they use it as a signal to start looking for long 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 long positions.
With that in mind, take a look at Erie Indemnity's past and upcoming earnings expectations:
EPS Estimate | 1.56 | 1.42 | 1.18 | 1.61 |
EPS Actual | 1.53 | 1.31 | 1.05 | 1.72 |
Revenue Estimate | 707.47M | 650.63M | 631.87M | 683.97M |
Revenue Actual | 726.14M | 672.11M | 635.93M | 687.84M |
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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