If history is any guide, there may be good fortune ahead for shares of Fortis (NYSE:FTS). 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 Fortis, which is trading around $44.09 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 Fortis’s past and upcoming earnings expectations:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.53 | 0.51 | 0.46 | 0.61 |
| EPS Actual | 0.54 | 0.54 | 0.45 | 0.62 |
| Revenue Estimate | 2.04B | 1.79B | 1.77B | 2.01B |
| Revenue Actual | 2.36B | 1.96B | 1.95B | 2.25B |
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.
