This Favorable Sign Appears On LKQ's Chart

This Favorable Sign Appears On LKQ's Chart

If history is any guide, there may be good fortune ahead for shares of LKQ LKQ. 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 LKQ, which is trading around $55.31 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 LKQ's past and upcoming earnings expectations:

 

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate 1.02 0.92 0.77 0.86
EPS Actual 1.09 1 0.87 1.02
Revenue Estimate 3.45B 3.30B 3.09B 3.28B
Revenue Actual 3.34B 3.35B 3.19B 3.30B

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas