Death Cross Looms Over Amcor Investors

Death Cross Looms Over Amcor Investors

If history is any guide, there may be trouble ahead for shares of Amcor AMCR. 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 Amcor, which is trading around $10.81 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 Amcor's past and upcoming earnings expectations:

Quarter Q4 2022 Q3 2022 Q2 2022 Q1 2022
EPS Estimate 0.24 0.2 0.18 0.18
EPS Actual 0.24 0.2 0.18 0.18
Revenue Estimate 3.77B 3.44B 3.31B 3.29B
Revenue Actual 3.91B 3.71B 3.51B 3.42B

Quarter Q4 2022 Q3 2022 Q2 2022 Q1 2022
EPS Estimate 0.24 0.2 0.18 0.18
EPS Actual 0.24 0.2 0.18 0.18
Revenue Estimate 3.77B 3.44B 3.31B 3.29B
Revenue Actual 3.91B 3.71B 3.51B 3.42B

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas