These 3 stocks have shown substantial gains in the last few trading sessions, indicating strong bullish activity. Here’s an in-depth look.
The golden cross is a technical indicator that signals a potential bullish trend reversal. It occurs when the shorter-term moving average of an asset crosses above the longer-term moving average. This is often interpreted as a sign that the momentum in the market is shifting from sellers to buyers.
The most common moving averages used to identify a golden cross are the 50-day and 200-day moving averages. When the 50-day moving average crosses above the 200-day moving average, a golden cross is formed.
A golden cross is often seen as a bullish indicator, suggesting that an asset is likely to continue its upward trend. However, it is important to note that this is just one technical indicator, and it should not be used in isolation to make investment decisions.
Piramal Pharma created a golden cross in the month of November, with a sharp rejection candle after the formation of the golden cross. The stock is continuously rising after breaking both short-term and long-term EMAs. The golden cross is a positive sign that stocks may continue to uptrend from their current level. This stock has generated 50.88% returns for its investors over the 6-month time period.
Piramal Pharma Ltd is in the development and manufacturing of pharmaceutical products.
Goldiam International is in a super bullish trend after breaking out of the prior trading range. In the last few trading sessions, the chart has formed a golden cross. Since then, the stock price has skyrocketed. The stock volume has spiked and is trading at a 52-week high, suggesting the sustenance of the uptrend. Goldiam International has generated more than 41.25% in returns in the last six months.
Goldiam International Ltd is a holding company, which engages in the manufacture and export of diamond-studded gold and silver jewellery products.
City Union Bank’s stock witnessed a golden cross, which is a promising sign for the stock price to ride a new trend. The prior trend before the crossover resulted in strong bullishness in mid-November. From the chart, it looks like the trend is reversing; the same is confirmed by the golden cross. The stock has generated more than 18% in returns in the last six months.
City Union Bank Ltd engages in providing financial services. It operates through the following segments: Treasury, Corporate and Wholesale Banking, Retail Banking, and Other Banking Operations.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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