stockmarket

Golden Cross Appears Before argenx Investors



© Reuters. Golden Cross Appears Before argenx Investors

If history is any guide, there may be good fortune ahead for shares of argenx (:ARGX). 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 argenx, which is trading around $312.58 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 argenx’s past and upcoming earnings expectations:

Quarter
Q1 2022
Q4 2021
Q3 2021
Q2 2021
EPS Estimate -4.97 -4.82 -4.42 -3.63
EPS Actual -4.36 -4.76 -4.40 1.98
Revenue Estimate 16.02M 18.07M 15.27M 48.37M
Revenue Actual 21.16M 26.02M 857.00K 312.24M

Do you use the Golden Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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