A handful of stocks could be poised for a strong September as they head toward what investors rtpically regard as a bullish price chart pattern. Stocks have rebounded from a sluggish start to August the month and ended with gains for all three major indexes. The By late Friday, the S & P 500 had advanced about 1.
9% this month, while the Dow Jones Industrial Average added 1.5% and the Nasdaq Composite rose 0.2%.
Gains in the S & P 500 and Nasdaq Composite on Friday followed a report on July personal consumption expenditures prices, the Federal Reserve's preferred measure of inflation, that met Wall Street expectations and reinforced expectations that the central bank is poised to start lowering interest rates at its next policy meeting on Sept. 18. But some stocks such as Clorox may be signaling just the start of a bullish pattern.
That's because Clorox belongs to a subset of stocks that have formed, or are on the cusp of forming, a golden cross chart pattern — when their 50-day moving average crosses above their 200-day moving average. Analysts view the move as most meaningful when the stock's 200-day moving average is sloping upward. Here's a look at some of the stocks that appeared when CNBC Pro screened FactSet data in search of golden crosses.
Clorox Shares of the bleach and Glad bag maker are ahead more than 20% over the past month. As a result, Clorox's 200-day moving average is beginning to slope upward, on top of flashing a golden cross. Today's bullish signal follo.