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The stock market is breaking out, and some individual names are on the verge of doing so too. The S & P 500 on Tuesday closed at its highest level since August, putting the benchmark close to the key 4,300 mark. The move comes as investors breathe a sigh of relief after lawmakers reached a deal to raise the U.S. debt ceiling — avoiding a default. Easing expectations of tighter monetary policy have also bolstered sentiment. Given this backdrop, CNBC Pro screened the S & P 500 for stocks that are that have 50-day moving averages about to break above their respective 200-day averages. This would be a bullish momentum signal for these names. Here are the names that made the cut. Cloud services company Akamai made the list. The stock broke above its 200-day moving average last month, and now its 50-day average is on the verge of doing the same. Shares are up nearly 11% from the start of the year. Analysts, however, are not too positive on the stock, with more than half rating it as hold. Sherwin-Williams also made the cut. At the time this screen was run, Sherwin-Williams’ 50-day moving average sat at $228.78 compared to its $229.66 200-day moving average. Analysts are split on the stock, however. The average price target implies roughly 6% upside over the next 12 months. On top of that, 48% of analysts polled by FactSet have a buy rating on the stock, while 45% maintain a hold rating. Ticketing giant Live Nation also made the list. The stock is up about 20% this year, and analysts on average see it going up another 18% over the next 12 months.
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