If history is any guide, there may be good fortune ahead for shares of ON Semiconductor (NASDAQ:ON). 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 ON Semiconductor, which is trading around $74.27 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 ON Semiconductor's past and upcoming earnings expectations:
EPS Estimate | 1.26 | 1.05 | 0.94 | 0.74 |
EPS Actual | 1.34 | 1.22 | 1.09 | 0.87 |
Revenue Estimate | 2.01B | 1.90B | 1.79B | 1.71B |
Revenue Actual | 2.08B | 1.95B | 1.85B | 1.74B |
Also consider this overview of ON Semiconductor 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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