Hopeful Golden Cross Forms On Novartis's Chart

If history is any guide, there may be good fortune ahead for shares of Novartis NVS. 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 Novartis, which is trading around $92.70 at publication time.

signals

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 Novartis's past and upcoming earnings expectations:

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate 1.42 1.65 1.52 1.59
EPS Actual 1.40 1.71 1.66 1.52
Revenue Estimate 13.30B 13.03B 12.51B 12.51B
Revenue Actual 13.23B 13.03B 12.96B 12.41B

Do you use the Golden Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: MarketsMoversTrading IdeasBZI-CROSS
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!