Wisconsin Energy Corporation (NYSE:WEC) – A bullish sign appears on the chart of WEC Energy Gr

If history is any guide, there may be luck for the actions of WEC Energy Gr (NYSE: WEC). A so-called “golden cross” has formed on its chart and, unsurprisingly, this could be bullish for the stock.

What there is to know: Many traders use moving average crossover systems to make their decisions.

When a short-term average price rises above a longer-term average price, it can mean that the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is down.

Why it matters: 50 and 200 day simple moving averages are commonly used.

The golden cross occurs when the 50 days exceeds the 200 days. This could mean that the long-term trend is changing.

This just happened with WEC Energy Gr, which is trading around $95.83 at press time.

Remember: Seasoned investors do not blindly trade Golden Crosses.

Instead, they use it as a signal to start looking for long positions based on other factors, such as price levels and company fundamentals and events.

For seasoned investors, this is just a sign that it may be time to start considering possible long positions.

With that in mind, take a look at WEC Energy Gr’s past and future earnings forecasts:

Trimester Q3 2021 Q2 2021 Q1 2021 Q4 2020
EPS estimate 0.79 0.78 1.47 0.73
Actual EPS 0.92 0.87 1.61 0.86
Revenue estimate 1.68B 1.61B 2.31B 2.11B
Actual turnover 1.75B 1.68B 2.69B 1.93B

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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