If history is any guide, there may be trouble ahead for shares of Mettler-Toledo Intl (NYSE:MTD). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish 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 death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Mettler-Toledo Intl, which is trading around $1339.88 at publication time.
Remember: Seasoned investors don't blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short 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 short positions.
With that in mind, take a look at Mettler-Toledo Intl's past and upcoming earnings expectations:
EPS Estimate | 10.08 | 8.24 | 7.59 | 5.61 |
EPS Actual | 10.53 | 8.72 | 8.10 | 6.56 |
Revenue Estimate | 1.02B | 924.31M | 875.19M | 758.70M |
Revenue Actual | 1.04B | 951.95M | 924.35M | 804.39M |
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