Three stocks including McDonald's have formed the bullish 'golden cross' stock pattern during market breakout

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Cisco Systems Inc,Mcdonald's Corp,NASDAQ Composite

The 'golden cross' pattern occurs when an asset's 50-day moving average rises above the longer-term 200-day moving average, signaling a potential rally ahead.

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.

 

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