Hopeful Golden Cross Forms On Constellation Brands's Chart
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Constellation Brands' (NYSE:STZ) 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, potentially indicating a change in the long-term trend.
June 16, 2023 | 2:54 pm
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Constellation Brands (NYSE:STZ) experiences a golden cross, which could indicate a bullish trend for the stock.
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 may indicate a change in the long-term trend. In the case of Constellation Brands, the formation of a golden cross could lead to an increase in the stock price in the short term. However, it is important to note that seasoned investors use the golden cross as a signal to start looking for long positions based on other factors, such as price levels and company fundamentals.
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