If history is any guide, there may be good fortune ahead for shares of BlackRock (NYSE:BLK). 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 BlackRock, which is trading around $700.00 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 BlackRock's past and upcoming earnings expectations:
| Quarter | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|
| EPS Estimate | 7.07 | 7.90 | 9.15 | 10.15 |
| EPS Actual | 9.55 | 7.36 | 9.52 | 10.42 |
| Revenue Estimate | 4.23B | 4.65B | 4.89B | 5.17B |
| Revenue Actual | 4.31B | 4.53B | 4.70B | 5.11B |
Also consider this overview of BlackRock analyst ratings:
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
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