Will Investors Notice Exciting Sign On Constellation Brands's Chart?
Portfolio Pulse from Benzinga Insights
A 'golden cross' has formed on Constellation Brands' (NYSE:STZ) chart, which could indicate a bullish trend 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.
June 19, 2023 | 2:49 pm
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Constellation Brands (NYSE:STZ) has formed a 'golden cross' on its chart, which could indicate a bullish trend for the stock in the short term.
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 indicates a potential 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, as investors may interpret this as a positive sign and start considering long positions based on other factors such as price levels and company fundamentals.
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