News Formal

These retail stocks are on the verge of a death cross chart pattern

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 72%

Investment Strategy Nyheter

Markets,Ulta Beauty Inc,Spdr S&P Retail Etf

These retailers are facing pressure and seeing their respective stocks headed toward a death cross chart pattern.

Retail earnings have generally been strong, but the charts of several names in the sector look scary. Walmart and Lowe's beat analyst estimates as consumers continue to spend. The trend is not all encompassing however, with some stocks under pressure as consumers trim choices and limit day-to-day spending. Against this backdrop, CNBC Pro screened the SPDR S & P Retail ETF for stocks that were forming a death cross chart pattern.

Ulta Beauty in particular, the analyst added, is facing stiffer competition which could hurt future earnings. "We also think Ulta is losing share to Sephora, reflective of a shift towards prestige beauty, and to Amazon from expanded offerings including in prestige with newer brands like Clinique and Lancôme," Astrachan said. Camping World Holdings Shares of the RV maker have declined about 24% in 2024 and is also close to forming a death cross.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

These big, well-known stocks are forming the dreaded death cross chart patternA death cross forms when a stock's 50-day moving average slips below its 200-day moving average, lending a signal that investors are bearish on a stock.
Källa: CNBC - 🏆 12. / 72 Läs mer »