If history is any guide, there may be good fortune ahead for shares of DoorDash DASH. 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 DoorDash, which is trading around $59.73 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 DoorDash's past and upcoming earnings expectations:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | -0.68 | -0.60 | -0.41 | -0.41 |
| EPS Actual | -0.63 | -0.77 | -0.72 | -0.48 |
| Revenue Estimate | 1.77B | 1.63B | 1.52B | 1.37B |
| Revenue Actual | 1.82B | 1.70B | 1.61B | 1.46B |
Also consider this overview of DoorDash analyst ratings:
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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