I’m trying to understand if this popular Port123 hedge code is referencing monthly or daily data. I saw today that EPS estimates for Q3 and Q4 '22 are starting to come down and wondering how fast this hedge indicator might react. I’ve attached the quarterly EPS data from Ned Davis…
ema(5,0,#spepscy) < ema(20,0,#spepscy) // Place hedge when SP estimates trend lower
EVAL(ema(5,0,#spepscny) < ema(20,0,#spepscny),ticker(“SH”), 0)
is a useless hedge code.
This is not surprising because the analysts are clueless. Just look at the 12-month price targets from Dec-2021 for various tech stocks. Some of them are now 80% lower than what the estimates were in December.