As the month of August comes to an end, investors are eyeing potential stocks that could be gearing up for a strong September. The market showed signs of recovery towards the latter half of August, with gains in all three major indexes – S & P 500, Dow Jones Industrial Average, and Nasdaq Composite. The S & P 500 alone surged by 1.9%, while the Dow Jones and Nasdaq rose by 1.5% and 0.2% respectively. These gains were largely attributed to positive economic indicators, such as the Federal Reserve’s plans to lower interest rates in the upcoming policy meeting on Sept. 18.
One of the key players in this bullish pattern is Clorox, a company known for its bleach and Glad bag products. With a significant 20% increase in share value over the past month, Clorox is now showing signs of a golden cross chart pattern. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, especially significant when the 200-day moving average is trending upwards. Despite a “death cross” chart pattern in May, Clorox has managed to bounce back and is seen as a defensive play by investors in case of an economic slowdown. Additionally, the company boasts a healthy dividend yield of over 3%, making it an attractive option for many investors.
Teleflex: Making Strides in the Medical Device Sector
Another stock worth noting is Teleflex, a specialty medical device company that has seen a 19% increase in its stock value over the past three months. With a 50-day moving average close to its 200-day moving average, Teleflex is also on the radar for a potential golden cross. The company’s second-quarter earnings exceeded Wall Street estimates, leading to an upgrade in its rating by Piper Sandler analyst Matt O’Brien. Teleflex’s growth potential and attractive valuation make it a promising contender for investors looking for long-term gains.
Crown Castle, a real estate investment trust, is also showing signs of a golden cross, despite a slight dip in share value in 2024. With a strong 12% increase in the past three months, Crown Castle is gaining traction among investors looking for stable returns. Match Group, an online dating platform, has seen a remarkable 24% surge in stock value over the past three months. The company’s second-quarter revenue exceeded expectations, showcasing its growth potential in the online dating market. Both Crown Castle and Match Group present unique opportunities for investors seeking growth and stability in their portfolios.
Lastly, Prologis, a warehouse real estate investment trust, has experienced an impressive 18% surge in stock value in the past three months. With the rise of e-commerce and increased demand for warehouse spaces, Prologis is well-positioned to capitalize on this trend. The company’s growth prospects and solid performance make it a favorable choice for investors looking to diversify their portfolios with real estate assets.
The stock market is showing signs of recovery and growth, with several stocks poised to perform well in September. Investors should carefully consider their investment strategies and risk tolerance when evaluating these potential opportunities. Conducting thorough research and seeking advice from financial experts can help investors make informed decisions to maximize their returns in the current market environment.