Will Investors Notice Exciting Sign On Abiomed's Chart?

If history is any guide, there may be good fortune ahead for shares of Abiomed ABMD. 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 Abiomed, which is trading around $375.38 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 Abiomed's past and upcoming earnings expectations:

Quarter Q2 2023 Q1 2023 Q4 2022 Q3 2022
EPS Estimate 1.04 1.06 1.09 0.97
EPS Actual 1.30 1.25 1.16 1.13
Revenue Estimate 273.53M 278.98M 267.67M 252.84M
Revenue Actual 265.92M 277.15M 269.85M 261.18M

Quarter Q2 2023 Q1 2023 Q4 2022 Q3 2022
EPS Estimate 1.04 1.06 1.09 0.97
EPS Actual 1.30 1.25 1.16 1.13
Revenue Estimate 273.53M 278.98M 267.67M 252.84M
Revenue Actual 265.92M 277.15M 269.85M 261.18M

Also consider this overview of Abiomed 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