PEABODY ENERGY CORP is showing promising signs of setting up for a breakout.

Our stockscreener has identified a possible breakout setup on PEABODY ENERGY CORP (NYSE:BTU). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:BTU for potential opportunities.

In-Depth Technical Analysis of NYSE:BTU

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, BTU scores 7 out of 10 in our technical rating. Although BTU is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month BTU has a been trading in the 23.02 - 25.88 range, which is quite wide. It is currently trading near the high of this range.
• BTU is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 46% of 218 stocks in the same industry.
• BTU is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BTU is lagging the market.

Check the latest full technical report of BTU for a complete technical analysis.

How does the Setup look for NYSE:BTU

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:BTU is 9:

BTU has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 25.99. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.96, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:BTU

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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.