27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
If history is any guide, there may be good fortune ahead for shares of NetApp (NASDAQ:NTAP). 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 NetApp, which is trading around $73.84 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 NetApp's past and upcoming earnings expectations:
| Quarter | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|
| EPS Estimate | 1.34 | 1.31 | 1.33 | 1.1 |
| EPS Actual | 1.54 | 1.37 | 1.48 | 1.2 |
| Revenue Estimate | 1.54B | 1.61B | 1.68B | 1.55B |
| Revenue Actual | 1.58B | 1.53B | 1.66B | 1.59B |
Also consider this overview of NetApp 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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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