This Favorable Sign Appears On Bio-Techne's Chart
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Bio-Techne's (NASDAQ:TECH) 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 31, 2023 | 2:52 pm
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Bio-Techne's chart shows a golden cross, which could indicate a bullish trend for the stock. The stock is trading around $80.19 at publication time.
The golden cross is a technical indicator that occurs when a stock's 50-day moving average crosses above its 200-day moving average. This is generally considered a bullish signal, as it suggests that the stock's short-term momentum is increasing relative to its long-term trend. In the case of Bio-Techne, the formation of a golden cross could indicate a potential uptrend for the stock, which may attract more investors and drive the stock price higher in the short term.
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