A Bearish Sign Appears On Biomarin Pharmaceutical's Chart

A Bearish Sign Appears On Biomarin Pharmaceutical's Chart

If history is any guide, there may be trouble ahead for shares of Biomarin Pharmaceutical BMRN. 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 Biomarin Pharmaceutical, which is trading around $80.98 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 Biomarin Pharmaceutical's past and upcoming earnings expectations:

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate -0.32 -0.25 -0.11 -0.10
EPS Actual -0.32 -0.20 0.07 0.09
Revenue Estimate 442.39M 435.32M 448.79M 446.45M
Revenue Actual 449.81M 408.74M 501.69M 486.03M

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate -0.32 -0.25 -0.11 -0.10
EPS Actual -0.32 -0.20 0.07 0.09
Revenue Estimate 442.39M 435.32M 448.79M 446.45M
Revenue Actual 449.81M 408.74M 501.69M 486.03M

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas