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Benzinga - If history is any guide, there may be good fortune ahead for shares of Quest Diagnostics (NYSE:DGX). 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 Quest Diagnostics, which is trading around $149.09 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 Quest Diagnostics's past and upcoming earnings expectations:
EPS Estimate | 2.17 | 2.20 | 2.97 | 3.17 |
EPS Actual | 2.36 | 2.36 | 3.22 | 3.33 |
Revenue Estimate | 2.33B | 2.34B | 2.63B | 2.66B |
Revenue Actual | 2.49B | 2.45B | 2.61B | 2.74B |
Do you use the Golden Cross signal in your trading or investing? Share this article with a friend if you found it helpful!
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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