This Foreboding Sign Looms Over Warner Bros. Discovery's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on Warner Bros. Discovery's (NASDAQ:WBD) chart, indicating a potential bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
June 23, 2023 | 2:48 pm
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Warner Bros. Discovery (NASDAQ:WBD) faces a potential bearish trend as a 'death cross' forms on its chart, indicating a possible change in the long-term trend.
The death cross is a technical indicator that occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend. This could lead to a bearish trend for the stock in the short term. However, it's important to note that seasoned investors don't blindly trade death crosses and use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
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