Uncovering Noteworthy Technical Analysis Findings for BELLRING BRANDS INC (NYSE:BRBR).

A possible breakout setup was detected on BELLRING BRANDS INC (NYSE:BRBR) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:BRBR.

Insights from Technical Analysis

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to BRBR. In the last year, BRBR was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

• The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
• Looking at the yearly performance, BRBR did better than 92% of all other stocks. On top of that, BRBR also shows a nice and consistent pattern of rising prices.
• BRBR is one of the better performing stocks in the Personal Care Products industry, it outperforms 94% of 35 stocks in the same industry.
• BRBR is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so BRBR slightly outperforms the market at the moment.
• In the last month BRBR has a been trading in the 66.11 - 77.12 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of BRBR

How does the Setup look for BRBR

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for BRBR is 8:

BRBR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 78.60. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 73.42, a Stop Loss order could be placed below this zone.

How to trade BRBR?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.