Benzinga - If history is any guide, there may be good fortune ahead for shares of Carnival (NYSE:CCL). 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 Carnival, which is trading around $11.11 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 Carnival's past and upcoming earnings expectations:
QuarterQ4 2022Q3 2022Q2 2022Q1 2022EPS Estimate | -0.87 | -0.13 | -1.08 | -0.89 |
EPS Actual | -0.85 | -0.58 | -1.64 | -1.66 |
Revenue Estimate | 3.91B | 5.13B | 2.62B | 2.30B |
Revenue Actual | 3.84B | 4.30B | 2.40B | 1.62B |
Also consider this overview of Carnival 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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