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There are signs that NYSE:CC may be ready to breakout.

By Mill Chart

Last update: Aug 8, 2023

Our stock screener has detected a potential breakout setup on CHEMOURS CO/THE (NYSE:CC). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:CC.

CC Daily chart on 2023-08-08

What is the technical picture of NYSE:CC telling us.

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.

Overall CC gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CC is only an average performer.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • CC is one of the better performing stocks in the Chemicals industry, it outperforms 85% of 86 stocks in the same industry.
  • CC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CC is lagging the market slightly.
  • Looking at the yearly performance, CC did better than 86% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
  • In the last month CC has a been trading in the 35.53 - 39.05 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NYSE:CC?

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:CC is 9:

Besides having an excellent technical rating, CC 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 37.79. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 36.56, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CC in the last couple of days, which is a good sign.

Trading setups like NYSE:CC

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

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.

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

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.