Benzinga - If history is any guide, there may be trouble ahead for shares of Tenaris (NYSE:TS). 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 Tenaris, which is trading around $28.83 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 Tenaris's past and upcoming earnings expectations:
QuarterQ1 2023Q4 2022Q3 2022Q2 2022EPS Estimate | 1.65 | 1.39 | 0.99 | 0.83 |
EPS Actual | 1.91 | 1.37 | 1.03 | 1.08 |
Revenue Estimate | 3.88B | 3.49B | 2.89B | 2.65B |
Revenue Actual | 4.14B | 3.62B | 2.97B | 2.80B |
Also consider this overview of Tenaris 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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