A slew of stocks in the S & P 500 are on the verge of breaking out on the back of the market rally, according to the so-called golden cross pattern. CNBC Pro used FactSet data to screen the S & P 500 for stocks that are about to form the bullish chart pattern in which their 50-day moving average breaks above the 200-day trend line. This has been a reliable bullish signal that often indicates strong rallies on the horizon. Here is how we screened the stocks closing to forming such a pattern: 50DMA is approaching the 200DMA and within 3% 50DMA has not been on the other side of the 200DMA in the past month BlackRock is one stock that is about to break out even higher. Shares have rallied nearly 7% this month, bringing its 2023 gains to over 4%. The world’s largest asset manager just reported second-quarter results on Friday, earning $9.28 in adjusted earnings per share on $4.46 billion in revenue. Best Buy is another name on the brink of surging higher. The retailer has gained more than 4% this week alone amid the broader market rally. Synchrony Financial has rebounded 10% in the past month, pushing its year-to-date gains to 10%. The stock got hit earlier this year during the regional banking crisis. Other stocks that came up on the screen included agricultural name Bunge , payroll firm Paychex and Paycom Software .
