If history is any guide, there may be good fortune ahead for shares of Walgreens Boots Alliance (NASDAQ:WBA). A so-called "golden cross" has formed on its chart and, not surprisingly, this could be bullish for the stock.
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.
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 Walgreens Boots Alliance, which is trading down 94 cents, or 1.9%, to $49.53.
Walgreens Boots also made news last week, when the company announced that its board of directors has declared a quarterly dividend of 47.75 cents per share, unchanged from the previous quarter and an increase of 2.1 percent from the year-ago quarter. The dividend is payable March 11, 2022, to stockholders of record as of Feb. 18, 2022.
Walgreens Boots Alliance and its predecessor company, Walgreen Co., have paid a dividend in 357 straight quarters (89 years) and have raised the dividend for 46 consecutive years.
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