Eight
stocks
have
rallied
every
single
time
after
a
chart
pattern
known
as
a
“golden
cross”
has
occurred,
according
to
CNBC
Pro
‘s
analysis.
The
golden
cross
pattern
occurs
when
a
stock’s
short-term
50-day
moving
average
goes
above
its
long-term
200-day
moving
average
on
a
chart.
Wall
Street
often
sees
this
as
a
bullish
signal
and
an
indicator
of
strong
upward
momentum
that
often
precedes
sustained
gains.
The
technical
analysis
found
that
share
prices
rallied
100%
of
the
time
on
average
in
the
30
days
after
forming
the
pattern.
Extending
the
analysis
to
60
and
90
days
also
showed
these
stocks
consistently
make
gains
once
the
golden
cross
appears.
The
analysis,
covering
all
U.S.
stocks
with
over
$10
million
in
market
capitalization
from
Dec.
19,
2013,
to
Dec.
19,
2023,
revealed
the
following
companies
with
a
perfect
record
of
post-golden
cross
gains:
The
above
table
shows
the
shares
of
Allegiant
Travel
,
the
parent
company
of
budget
airline
Allegiant
Air,
rose
10.28%
on
average
in
the
30
days
following
a
golden
cross
pattern
formation.
The
pattern
occurred
five
times
over
the
analysis
period.
Other
stocks
that
have
had
a
100%
success
rate
for
a
golden
cross
formation
over
the
past
decade
include
South
Korean
video
game
developer
Gravity
Co
‘s
U.S.-listed
shares,
financial
technology
company
Jack
Henry
&
Associates
,
clinical
research
firm
Medpace
,
accounting
software
maker
Model
N
,
medical
diagnostics
company
RadNet
,
biotech
firm
Revance
Therapeutics
and
offshore
oil
and
gas
services
firm
SEACOR
Marine
Holdings
.
Although
these
eight
stocks
are
not
currently
exhibiting
the
golden
cross
pattern,
investors
may
want
to
monitor
the
technical
indicators,
as
forming
a
golden
cross
in
the
future
could
signal
an
opportune
time
to
buy
into
rising
upward
momentum.
Technical
analysts
view
the
golden
cross
as
a
strong
indicator
that
a
stock’s
price
has
built
solid
support
and
has
strong
growth
potential.
But
investors
should
still
consider
fundamentals
and
valuations
before
purchasing
any
stock.
