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Uncovering Noteworthy Technical Analysis Findings for CME GROUP INC (NASDAQ:CME).

By Mill Chart

Last update: Nov 24, 2023

A possible breakout setup was detected on CME GROUP INC (NASDAQ:CME) 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 NASDAQ:CME.

CME Daily chart on 2023-11-24

Insights from Technical Analysis

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 8 out of 10 to CME. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CME is showing a nice and steady performance.

  • The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
  • When comparing the yearly performance of all stocks, we notice that CME is one of the better performing stocks in the market, outperforming 87% of all stocks. On top of that, CME also shows a nice and consistent pattern of rising prices.
  • CME is part of the Capital Markets industry. There are 207 other stocks in this industry. CME outperforms 89% of them.
  • CME 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 CME is lagging the market slightly.
  • In the last month CME has a been trading in a tight range between 206.89 and 217.90.

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

How does the Setup look for NASDAQ:CME

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:CME scores a 8 out of 10:

CME has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 217.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 215.43, a Stop Loss order could be placed below this zone.

Trading breakout setups.

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.

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.

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.

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CME GROUP INC

NASDAQ:CME (2/22/2024, 10:21:36 AM)

214.735

-0.26 (-0.12%)

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