A few stocks are developing a bullish chart pattern that indicates a breakout may be in store. A golden cross is a chart pattern in which a stock's 50-day moving average moves above its 200-day average. The move serves as an indication to investors that shares could see big gains, and it is considered most significant by analysts when the 200-day moving average is sloping upward. The patterns come as September has proved to be a tough market.
This comes after Cardinal Health's quarterly results last month beat Wall Street's expectations, sending the stock more than 3% higher . The prescription drug distributor raised its non-GAAP earnings forecast for fiscal 2025, which began in July, to a range of $7.55 to $7.70 per share. Previously, the company had projected it would earn at least $7.50 per share.
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