The phenomenon, known as a "golden cross," occurs when a stock's 50-day moving average share price rises above the longer-term 200-day moving average.
It comes at a time when the S & P 500 has rallied by nearly 10% from a recent low, and charting analysts expect to see the index rise further .
The stocks below are about to signal the golden cross pattern.
Canadian stock Descartes Systems rose 7% on average in the month after the golden cross.
The stock's price action has shown the golden cross forming seven times over the past decade.
Persons:
Kevin Krishnaratne, David Weiss, Shagun Singh, Michael Werner, Hayley Tam
Organizations:
CNBC, Descartes Systems, Stryker Corporation, Deutsche, Nasdaq, Scotiabank, Stryker, RBC, UBS, CNBC Pro
Locations:
Canadian, Finland, Denmark, Norway, Sweden, Singapore