Investing
Boeing, Cisco and Other Stocks With Recent Golden 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 five stocks, three of them Dow Jones industrials, that recently saw their 50-day moving average cross above the 200-day average, a golden cross, and may be worth a look now.
Boeing Co. (NYSE: BA) saw its golden cross last week, and since then the gap between the two averages has widened to more than 6% of the share price. The stock is considered one of the best dividend stocks for retirees to own. Shares are about 29% higher year to date, and analysts on average recommend buying shares.
Cisco Systems Inc.’s (NASDAQ: CSCO) recently entwined 50-day and 200-day moving averages parted ways last week, though the short-term average hasn’t risen much above the other since then. The recent earnings report did not excite analysts much. The shares are up more than 14% since the beginning of the year, and analysts do recommend buying shares.
Oracle Corp.’s (NYSE: ORCL) golden cross came early last week, but the gap between the averages is up to only about 33 cents. Some have wondered whether this company has gotten too aggressive about its share buybacks. Year to date, Oracle shares are up 15% or so, and note that the buy sentiment among analysts is somewhat weak but has improved.
Nike Inc. (NYSE: NKE) saw a recent golden cross, recovering from the death cross during the December market sell-off. The stock was one of the best performing Dow components in January. Shares now are up about 14% year to date. Analysts on average still recommend buying shares.
Salesforce.com Inc. (NYSE: CRM) saw its golden cross this week, after also suffering a death cross back in December. The stock also was added to the Best Ideas List at Wedbush Securities recently. Its shares are up more than 17% year to date, on last look. Here too analysts recommend buying the shares.
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