A Golden Cross is said to occur when a short-term moving average crosses above the longer-term moving average. The significance shows bullishness, as
Majorly, a short-term moving average is 50-days and
Moreover, the moving averages are considered as support levels and if breached on the lower side, then one can assume the beginning of a negative trend.
As stocks rise upward, the averages try to build buying support which helps in minor correction, looked as buying opportunities.
When correlated with other indicators on overbought positions can help to determine the immediate target levels. The overall trend turns highly optimistic if
A successful Golden Cross not only changes the stock sentiment, but adds to the immediate trading strategies. One may look at going long considering 10-15 days as trading sessions as charts suggest.
Here is the list of stocks that made Golden Cross from the last week:-
|Strides Pharma Science Ltd||492|
|Cera Sanitaryware Ltd||2821|
|PC Jeweller Ltd||164|
|ABB India Ltd||1437|
|Gujarat Gas Ltd||162|
|Supreme Industries Ltd||1152|