If history is any guide, there may be good fortune ahead for shares of Agnico Eagle Mines (NYSE:AEM). 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 Agnico Eagle Mines, which is trading around $62.59 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 Agnico Eagle Mines's past and upcoming earnings expectations:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.70 | 0.76 | 0.59 | 0.60 |
| EPS Actual | 0.46 | 0.60 | 0.69 | 0.67 |
| Revenue Estimate | 1.19B | 1.17B | 954.88M | 914.36M |
| Revenue Actual | 949.10M | 974.07M | 966.32M | 934.39M |
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
