These 6 global stocks are nearing the dreaded 'death cross' chart pattern

📆 20-10-2023 02:43:00
📰 CNBC

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CNBC Pro identified 6 stocks, from automakers to lithium miners, which are close to forming a death cross chart pattern.

Bearish signals, indicating potential selling pressure in the near future, have gripped a handful of global stocks that look close to forming what's known as a "death cross" chart pattern. 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.

Pro screened for stocks in the MSCI World Index ex-U.S. and found six global stocks close to forming a death cross: Canadian auto parts maker Magna International , Japanese industrials Yaskawa Electric and Minebea Mitsumi , Belgian chemicals giant Solvay , French automaker Renault and Australian lithium miner Pilbara Minerals .

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