Golden Cross Appears Before Ambev Investors
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Ambev's (NYSE:ABEV) chart, which could be bullish for the stock. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a potential change in the long-term trend.
May 23, 2023 | 2:59 pm
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Ambev's chart shows a golden cross, indicating a potential bullish trend for the stock. The company's recent earnings have exceeded estimates.
The golden cross is a technical indicator that suggests a potential bullish trend for a stock. In Ambev's case, the 50-day moving average has crossed above the 200-day moving average, which could indicate a change in the long-term trend. Additionally, the company's recent earnings have exceeded estimates, which could further support a positive outlook for the stock in the short term.
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