If history is any guide, there may be good fortune ahead for shares of Sociedad Quimica Y Minera(NYSE:SQM). 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 Sociedad Quimica Y Minera, which is trading around $55.16 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 Sociedad Quimica Y Minera's past and upcoming earnings expectations:
|Quarter||Q2 2021||Q1 2021||Q4 2020||Q3 2020|
|Revenue Estimate||548.54 M||508.81 M||479.07 M||464.60 M|
|Revenue Actual||588.00 M||528.50 M||513.80 M||452.90 M|
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