Ominous Death Cross Forms On Henry Schein's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on the chart of Henry Schein (NASDAQ:HSIC), which could indicate a bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, suggesting a potential change in the long-term trend. The company's stock is currently trading around $80.46. Seasoned investors often use this as a signal to start considering possible short positions.
June 29, 2023 | 2:47 pm
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The formation of a 'death cross' on Henry Schein's chart could indicate a bearish trend for the stock, potentially leading to a decrease in its price.
The 'death cross' is a technical indicator that suggests a bearish trend for a stock. It occurs when the 50-day moving average of a stock moves below its 200-day moving average. This has just happened with Henry Schein, indicating a potential downward trend for the stock. As a result, the stock price may decrease in the short term.
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