A handful of stocks are likely to have strong performances in September because they are moving toward price chart patterns that investors typically view as bullish. Stocks have rebounded this month from a sluggish start to the year, with all three major indexes rising. As of Friday evening, the S&P 500 was up about 1.9% for the month, the Dow Jones Industrial Average was up 1.5% and the Nasdaq was up 0.2%. The S&P 500 and Nasdaq Composite index rose on Friday after a July personal consumption expenditures price report, the Fed’s preferred inflation gauge, matched Wall Street expectations and reinforced expectations that the central bank is preparing to start cutting interest rates. It will be held on September 18th. That’s because Clorox belongs to the subset of stocks that have formed or are about to form a Golden Cross pattern — when their 50-day moving average crosses their 200-day moving average. Analysts believe the move makes the most sense when the stock’s 200-day moving average is sloping upward. Here are some of the stocks that emerged as CNBC Pro sifted through FactSet data looking for golden crosses. Shares of Clorox, maker of bleach and Glad bags, have risen more than 20% in the past month. As a result, Clorox’s 200-day moving average began to slope upward and a golden cross appeared. Today’s bullish signal follows the so-called “death cross” chart pattern that emerged in May (the opposite of the golden cross). Investors mostly view Clorox as a defensive play in a slowing economy and praise its dividend yield of more than 3%. Clorox beat Wall Street’s fiscal fourth-quarter profit forecasts this month, and its fiscal 2025 profit outlook also beat analysts’ expectations. The specialty medical device company’s Teleflex shares have gained about 19% in the past three months. The stock’s 50-day moving average is around $225.45, which is very close to its 200-day moving average of $226.61. Teleflex’s second-quarter profit topped Wall Street expectations in early August, when the company also raised the upper end of its full-year guidance. Piper Sandler analyst Matt O’Brien upgraded Teleflex to “overweight” from “neutral” in July, predicting that earnings pressure may ease next year while its valuation remains attractive. Crown Castle Crown Castle also signals the Golden Cross ahead. Shares of the REIT have fallen about 3% so far in 2024, but have gained more than 12% in the past three months. Shares of online dating platform Match Group have soared nearly 24% in the past three months. The company’s second-quarter revenue topped Wall Street’s July forecast, totaling about $864 million, while analysts polled by FactSet expected $856.5 million. Shares in the warehouse REIT have soared more than 18% in the past three months.
