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If history is any guide, there may be trouble ahead for shares of Duke Energy DUK. A so-called “death cross” has formed on its chart and, not surprisingly, this could be bearish 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 death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Duke Energy, which is trading around $89.56 at publication time.
Remember: Seasoned investors don’t blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short 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 short positions.
With that in mind, take a look at Duke Energy’s past and upcoming earnings expectations:
Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
---|---|---|---|---|
EPS Estimate | 1.07 | 1.33 | 0.96 | 1.79 |
EPS Actual | 1.14 | 1.30 | 0.94 | 1.88 |
Revenue Estimate | 5.90B | 6.37B | 6.53B | 7.31B |
Revenue Actual | 6.68B | 7.13B | 6.24B | 6.95B |
Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
---|---|---|---|---|
EPS Estimate | 1.07 | 1.33 | 0.96 | 1.79 |
EPS Actual | 1.14 | 1.30 | 0.94 | 1.88 |
Revenue Estimate | 5.90B | 6.37B | 6.53B | 7.31B |
Revenue Actual | 6.68B | 7.13B | 6.24B | 6.95B |
Also consider this overview of Duke Energy analyst ratings:
Do you use the Death 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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Image and article originally from www.benzinga.com. Read the original article here.