A Bearish Sign Appears On Seagen's Chart

A Bearish Sign Appears On Seagen's Chart

If history is any guide, there may be trouble ahead for shares of Seagen SGEN. 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 Seagen, which is trading around $127.43 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 Seagen's past and upcoming earnings expectations:

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate -0.86 -1 -0.82 -0.57
EPS Actual -0.73 -0.74 -0.95 -1.61
Revenue Estimate 437.55M 401.27M 407.21M 384.65M
Revenue Actual 497.50M 426.46M 429.85M 424.06M

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate -0.86 -1 -0.82 -0.57
EPS Actual -0.73 -0.74 -0.95 -1.61
Revenue Estimate 437.55M 401.27M 407.21M 384.65M
Revenue Actual 497.50M 426.46M 429.85M 424.06M

Also consider this overview of Seagen analyst ratings:

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

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

Posted In: BZI-CROSSMarketsMoversTrading Ideas