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This Favorable Sign Appears On Biomarin Pharmaceutical's Chart

If history is any guide, there may be good fortune ahead for shares of Biomarin Pharmaceutical (NASDAQ:BMRN). 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 Biomarin Pharmaceutical, which is trading around $89.57 at publication time.

signals

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 Biomarin Pharmaceutical’s past and upcoming earnings expectations:

Quarter Q3 2021 Q2 2021 Q1 2021 Q4 2020
EPS Estimate -0.25 -0.11 -0.10 -0.19
EPS Actual -0.20 0.07 0.09 0.12
Revenue Estimate 435.32M 448.79M 446.45M 440.23M
Revenue Actual 408.74M 501.69M 486.03M 452.12M

Also consider this overview of Biomarin Pharmaceutical analyst ratings:

ratings

Do you use the Golden 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.

This post was originally published on this site

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