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Tesla, Schlumberger and 4 Others With Recent Golden Crosses or Death Crosses
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Golden crosses and death crosses are common signals in technical analysis and refer to the relationship between short-term and long-term moving averages. The golden cross typically is seen as a bullish sign, perhaps a stock that has or is about to break out. The death cross, on the other hand, can be a bearish sign, perhaps warning investors to get out of the way or signaling that it may be time short the stock.
Here are three notable stocks that recently saw their 50-day moving average cross above the 200-day average, a golden cross.
Allergan PLC (NYSE: AGN) saw its golden cross at the end of July, and the gap between the two averages now has widened to more than $6. The stock was a top pick at Merrill Lynch earlier this summer. Shares are about 8% higher year to date, and analysts on average recommend buying shares.
CBS Corp.’s (NYSE: CBS) golden cross occurred early this month, but the short-term average hasn’t risen much since then. Investors are keeping an eye on whether CEO Moonves is ousted due to a sex scandal and how that might affect a possible Viacom merger. CBS shares are down more than 11% since the beginning of the year. The buy sentiment among analysts is somewhat weak though.
Tesla Inc.’s (NYSE: TSLA) golden cross came after the company posted second-quarter results but before CEO Musk tweeted his desire to take the company private. Year to date, shares are up 10% or so, but note that the analysts recommend holding the shares.
And here are three notable stocks that recently saw their 200-day moving average cross above the 50-day average, or a death cross.
Discover Financial Services (NYSE: DFS) saw its death cross on the last day of July, and the gap has slowly widened to almost $2. We noted the company as one with summer share buybacks too big to ignore. Shares are still down about 3% year to date, but analysts on average recommend buying shares.
Schlumberger Ltd. (NYSE: SLB) started off the month of August with a death cross, its second this year. The company could be on its way to a $100 billion market cap, if it doesn’t lose its way. Shares are down more than 6% year to date. Here too analysts recommend buying the shares.
Wynn Resorts Ltd. (NYSE: WYNN) saw its death cross in the beginning of the month as well, and the 50-day average has continued to drop since. Argus recently downgraded the stock, while Morgan Stanley and Stifel cut their price targets after earnings. Year to date, shares are down about 10%, but so far the consensus recommendation is to buy shares.
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