If history is any guide, there may be trouble ahead for shares of ASE Technology Holding Co ASX. 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 ASE Technology Holding Co, which is trading around $7.065 at publication time.
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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 ASE Technology Holding Co's past and upcoming earnings expectations:
Quarter | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 |
---|---|---|---|---|
EPS Estimate | 0.20 | 0.14 | 0.08 | 0.08 |
EPS Actual | 0.23 | 0.08 | 0.14 | 0.16 |
Revenue Estimate | 5.41B | 4.48B | 4.23B | 4.25B |
Revenue Actual | 5.41B | 4.54B | 4.26B | 5.23B |
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