Several stocks are nearing one of Wall Street's most closely watched price chart patterns, which would set them up for further gains ahead.
A small number of stocks are on the cusp of signaling a bullish price chart pattern that may herald a breakout ahead. Investors view a golden cross chart pattern as a key indication that a stock could be headed for strong gains. The move refers to the point at which a stock's 50-day moving average crosses above its 200-day counterpart. Analysts praise the move still more if the stock's 200-day moving average is sloping upward.
Pro screened FactSet data to find stocks close to forming golden cross patterns that might suggest future gains. Here's a look at the list we uncovered. UnitedHealth Group Shares of the health insurance company have advanced more than 8% in 2024. The stock's 50-day moving average of $501.09 is within striking distance of its 200-day moving average of $510.19, indicating a possible golden cross if the recent trend holds.
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