Hopeful Golden Cross Forms On Bank Bradesco's Chart
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Bank Bradesco's (NYSE:BBDO) chart, indicating a potential bullish trend for the stock. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a possible change in the long-term trend.

June 21, 2023 | 2:48 pm
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Bank Bradesco's chart shows a golden cross, indicating a potential 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, suggesting that the stock's long-term trend may be changing. In the case of Bank Bradesco, the formation of a golden cross could lead to an increase in its 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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