If history is any guide, there may be good fortune ahead for shares of Wheaton Precious Metals (NYSE:WPM). 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 Wheaton Precious Metals, which is trading around $48.88 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 Wheaton Precious Metals's past and upcoming earnings expectations:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.310 | 0.34 | ||
| EPS Actual | 0.293 | 0.30 | 0.36 | 0.36 |
| Revenue Estimate | 290.40M | 318.77M | 331.99M | 331.99M |
| Revenue Actual | 278.20M | 268.96M | 330.39M | 324.12M |
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.
