As the market heads into September, investors are keeping a close eye on stocks that are showing signs of bullish momentum. After a slow start in August, the market ended with gains for all three major indexes. This article will analyze a handful of stocks that are poised for a strong September based on their potential bullish chart patterns and recent performance.
One of the stocks that investors are closely watching is Clorox, the bleach and Glad bag maker. Clorox has seen a significant increase of over 20% in the past month, leading to its 200-day moving average sloping upward and forming a golden cross chart pattern. This bullish signal comes after a previous “death cross” pattern back in May. Investors often view Clorox as a defensive play in times of economic uncertainty, especially given its more than 3% dividend yield. The company also exceeded Wall Street’s earnings expectations for the fiscal fourth quarter and provided a positive outlook for fiscal 2025.
Teleflex: Strong Momentum in Medical Devices
Another stock showing strong momentum is Teleflex, a specialty medical device company. With a solid 19% increase in the past three months, Teleflex is approaching a golden cross as its 50-day moving average is close to crossing above its 200-day moving average. The company reported better-than-expected second-quarter earnings in August and raised its full-year guidance. Analysts have upgraded Teleflex to overweight, citing easing earnings pressure and attractive valuation.
Crown Castle, a real estate investment trust, is also signaling a golden cross pattern ahead. Despite a slight pullback in 2024, the company has seen a 12% increase in the past three months. This potential bullish signal indicates a positive trend for Crown Castle in the upcoming weeks.
Match Group, the online dating platform, has experienced a significant surge of close to 24% in the past three months. The company’s second-quarter revenue exceeded Wall Street estimates, showcasing strong growth potential for Match Group going forward.
Lastly, Prologis, a warehouse real estate investment trust, has seen a surge of over 18% in the past three months. The strong performance of Prologis indicates a positive trend in the warehouse real estate sector and reflects favorable market conditions for the company.
These stocks are demonstrating bullish patterns and strong momentum heading into September. Investors should keep a close watch on these companies as they have the potential to outperform the market in the coming weeks. It is essential to conduct thorough research and analysis before making any investment decisions based on these patterns.