A Bullish Sign Appears On Live Nation Entertainment's Chart

If history is any guide, there may be good fortune ahead for shares of Live Nation Entertainment LYV. 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 Live Nation Entertainment, which is trading around $88.19 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 Live Nation Entertainment’s past and upcoming earnings expectations:

Quarter Q1 2023 Q4 2022 Q3 2022 Q2 2022
EPS Estimate 0.41 -0.92 1.03 0.51
EPS Actual -0.25 -1.09 1.39 0.66
Revenue Estimate 2.28B 3.60B 5.10B 3.97B
Revenue Actual 3.13B 4.29B 6.15B 4.43B

Also consider this overview of Live Nation Entertainment analyst ratings:

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