Stock market selloff means these shares are forming the dreaded death cross pattern

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CNBC Pro found six stocks nearing the death cross.

The death cross has come calling for some stocks. A death cross is a price chart pattern that forms when a stock's 50-day moving average crosses below its 200-day moving average. It can be taken as a signal that investors are bearish on a stock or that the stock's momentum weakening and will push it lower. A handful of stocks, ranging from well-known food names to a lesser-known energy company, are close to drawing a death cross.

Pro found six: One of those is PepsiCo . The snack-and-soda maker has struggled this year, sliding about 6% since 2023 began. But analysts are bullish on the stock, according to LSEG, with an average rating of buy and price target implying shares could rally more almost 20%. Pepsi initially showed interest in acquiring Hostess Brands, the company known for Twinkies. Peanut butter and jelly maker J.M. Smucker ended up buying Hostess in a deal announced this month.

's Michael Bloom and Fred Imbert contributed to this report

 

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