Benzinga - If history is any guide, there may be good fortune ahead for shares of Tractor Supply (NASDAQ:TSCO). 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 Tractor Supply, which is trading around $222.68 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 Tractor Supply's past and upcoming earnings expectations:
EPS Estimate | 2.07 | 3.52 | 1.41 | 1.83 |
EPS Actual | 2.10 | 3.53 | 1.65 | 1.93 |
Revenue Estimate | 3.29B | 3.90B | 2.92B | 3.24B |
Revenue Actual | 3.27B | 3.90B | 3.02B | 3.32B |
Also consider this overview of Tractor Supply 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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