A few stocks could ride the market's momentum and see a breakout ahead, according to a bullish price chart pattern that is closely watched by technical analysts. McDonald's and Cisco Systems are among the companies that have recently formed the "golden cross" pattern , a phenomenon that occurs when an asset's 50-day moving average rises above an upwardly sloping 200-day moving average. These stocks could be poised for a strong run as the three major U.S.
"We now believe higher valuation premium relative to S & P and peers is warranted given its clear scale advantage that will allow it to out-comp peers and move into an even stronger position within the fast food industry," analyst Christine Cho said in a note. Cisco Systems Cisco Systems shares are up about 3.8% this year and made the cut. The stock has jumped more than 10% this quarter after the company posted second-quarter results that beat analysts' estimates.