By Mill Chart
Last update: Nov 28, 2022
A possible breakout setup was detected on CADENCE BANK (NYSE:CADE) 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:CADE.
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 CADE. Although CADE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:CADE currently has a 9 as setup rating:
Besides having an excellent technical rating, CADE 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 28.91. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.68, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CADE in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
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.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Our Breakout analyzer lists more breakout setups and is updated daily.
CADENCE BANK
NYSE:CADE (3/28/2024, 10:28:46 AM)
28.98
+0.04 (+0.14%)
/PRNewswire/ -- Cadence Bank (NYSE: CADE) will release its first quarter 2024 earnings on Monday, April 22, 2024, after the close of the financial markets. It...
/PRNewswire/ -- Cadence Bank (NYSE: CADE) (the Company), today announced financial results for the quarter and year ended December 31, 2023. Given the sale of...
/PRNewswire/ -- At its meeting today, the board of directors of Cadence Bank (NYSE: CADE) (Cadence) declared a quarterly cash dividend of $0.25 per share of...
/PRNewswire/ -- In the spirit of holiday giving, Cadence Bank (NYSE: CADE), through the Cadence Bank Foundation, proudly donated a total of $150,000 to 10...
/PRNewswire/ --Cadence Bank (NYSE: CADE) will release its fourth-quarter 2023 earnings on Monday, January 29, 2024, after the close of the financial markets....
Cadence Bank (CADE) announces a new share repurchase program, allowing the company to buy up to 10M shares of its stock before December 31, 2024.
/PRNewswire/ -- Cadence Bank's (NYSE: CADE) (Cadence) Board of Directors authorized a new share repurchase program allowing the company to purchase up to an...
/PRNewswire/ -- Linscomb and Williams (L&W), a Cadence Bank (NYSE: CADE) subsidiary providing wealth advisory services, has once again been named to the...