Watch these stocks that may be poised for a pullback as they near a worrying chart pattern.
A small group of stocks are on the verge of forming a worrisome chart pattern known as a "death cross ." The wider market has floundered this week, despite being on pace to end May with gains. The Nasdaq Composite posted its worst day of the month on Wednesday, while more than 400 stocks in the S & P 500 ended the session lower. One subset of stocks, however, may be on the verge of breaking down further.
Pro screened FactSet data and found five stocks at risk, including bleach and Glad bag maker Clorox . Clorox Shares of Clorox have fallen more than 10% in 2024. In April, the company missed missed Wall Street's third-quarter estimates for revenue, while earnings surpassed expectations. Clorox executives tied the revenue miss to lower volumes that were hurt by a cyberattack in late 2023 that affected operations.
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