This Favorable Sign Appears On Brookfield Renewable's Chart

If history is any guide, there may be good fortune ahead for shares of Brookfield Renewable BEP. 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 Brookfield Renewable, which is trading around $39.15 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 Brookfield Renewable's past and upcoming earnings expectations:

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate -0.08
EPS Actual -0.12 -0.21 -0.13 -0.24
Revenue Estimate 1.15B 1.01B 657.00M 657.00M
Revenue Actual 1.09B 966.00M 1.02B 1.02B

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate -0.08
EPS Actual -0.12 -0.21 -0.13 -0.24
Revenue Estimate 1.15B 1.01B 657.00M 657.00M
Revenue Actual 1.09B 966.00M 1.02B 1.02B

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas