In a market that has seen its fair share of ups and downs, a handful of stocks are showing promising signs as they head into September. These stocks are displaying what investors typically view as a bullish chart pattern, signaling potential growth in the coming weeks.
After a slow start to August, the stock market ended the month on a positive note, with gains across all three major indexes. By the end of the month, the S & P 500 had advanced approximately 1.9%, while the Dow Jones Industrial Average and the Nasdaq Composite also posted gains of 1.5% and 0.2% respectively. These gains were fueled by positive economic indicators, including expectations of interest rate cuts by the Federal Reserve.
One promising sign for some stocks is the formation of a golden cross chart pattern, where the 50-day moving average crosses above the 200-day moving average. This pattern is considered significant when the stock’s 200-day moving average is trending upwards. Stocks such as Clorox are showing indications of this bullish pattern, with significant gains over the past month and a positive outlook for the future.
Clorox, known for its bleach and Glad bag products, has seen its stock rise by more than 20% in the past month. With the 200-day moving average starting to trend upwards and a golden cross forming, Clorox is showing signs of strength. Investors view Clorox as a defensive play in uncertain economic times, with a dividend yield of over 3%. The company has also surpassed earnings estimates and provided positive guidance for the future.
Teleflex, a specialty medical device company, has seen its stock rise by 19% in the past three months. With the 50-day moving average approaching the 200-day moving average, Teleflex is poised for further growth. The company’s strong earnings performance and positive outlook have attracted attention from analysts, with upgrades and increased guidance for the future.
Crown Castle, a real estate investment trust, is also showing indications of a golden cross pattern. Despite a slight pullback in 2024, the stock has surged by over 12% in the past three months. This growth potential is drawing investor interest in the company’s real estate investment opportunities.
Match Group, the online dating platform, has seen a significant rise in its stock price, nearing 24% in the past three months. The company’s strong revenue performance and positive outlook have contributed to this growth. With revenue surpassing expectations and analyst support, Match Group is positioned for further success.
Prologis, a warehouse real estate investment trust, has experienced a surge of over 18% in the past three months. The company’s focus on warehouse real estate and strong performance in the market have attracted investor interest. With the potential for further growth, Prologis is one to watch in the coming months.
These stocks are displaying promising signs for a strong September, with the potential for continued growth and positive performance in the market. Investors should carefully consider these opportunities as they navigate the ever-changing landscape of the stock market.