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Benzinga Insights

This Favorable Sign Appears On SBA Communications's Chart

If history is any guide, there may be good fortune ahead for shares of SBA Communications (NASDAQ:SBAC). 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 SBA Communications, which is trading around $341.90 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 SBA Communications's past and upcoming earnings expectations:

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021
EPS Estimate 1 0.69 0.83 0.68
EPS Actual 1.72 0.44 0.43 1.37
Revenue Estimate 603.32M 591.27M 576.55M 558.05M
Revenue Actual 619.77M 595.26M 589.30M 575.53M

Also consider this overview of SBA Communications 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.

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