A small group of stocks are on the verge of forming a worrisome chart pattern known as a "death cross ."
A death cross occurs when a stock's 50-day moving average falls below its 200-day average.
Baxter International Stock in medical equipment maker Baxter International is also on the verge of a death cross.
Other stocks nearing a death cross chart pattern include Illinois Tool Works and Abbott Laboratories .
While the golden cross suggests a potential uptrend, ITW is now approaching the bearish death cross chart pattern only five months later.
Persons:
Goldman Sachs, Bonnie Herzog, Clorox, TD Cowen, Joshua Jennings, Baxter, Jennings, Abbott's
Organizations:
Nasdaq, CNBC, Baxter International Stock, Baxter, Abbott Laboratories ., Tool, Abbott Laboratories, U.S . Food, Drug Administration
Locations:
Hillrom, Illinois, U.S