This Favorable Sign Appears On Seagen's Chart

This Favorable Sign Appears On Seagen's Chart

If history is any guide, there may be good fortune ahead for shares of Seagen SGEN. 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 Seagen, which is trading around $176.25 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 Seagen's past and upcoming earnings expectations:

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021
EPS Estimate -1 -0.82 -0.57 -0.60
EPS Actual -0.74 -0.95 -1.61 -0.47
Revenue Estimate 401.27M 407.21M 384.65M 355.03M
Revenue Actual 426.46M 429.85M 424.06M 388.48M

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021
EPS Estimate -1 -0.82 -0.57 -0.60
EPS Actual -0.74 -0.95 -1.61 -0.47
Revenue Estimate 401.27M 407.21M 384.65M 355.03M
Revenue Actual 426.46M 429.85M 424.06M 388.48M

Also consider this overview of Seagen analyst ratings:

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas