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Indications Suggest NYSE:CRBG Could Be on the Verge of a Breakout.

By Mill Chart

Last update: Mar 12, 2024

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

CRBG Daily chart on 2024-03-12

Technical Analysis Observations

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

We assign a technical rating of 10 out of 10 to CRBG. Both in the recent history as in the last year, CRBG has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
  • When comparing the yearly performance of all stocks, we notice that CRBG is one of the better performing stocks in the market, outperforming 88% of all stocks. On top of that, CRBG also shows a nice and consistent pattern of rising prices.
  • CRBG is one of the better performing stocks in the Financial Services industry, it outperforms 83% of 103 stocks in the same industry.
  • CRBG 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 CRBG is lagging the market slightly.
  • In the last month CRBG has a been trading in the 23.34 - 25.79 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Our latest full technical report of CRBG contains the most current technical analsysis.

Why is NYSE:CRBG a setup?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:CRBG exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

CRBG 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 25.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.04, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CRBG in the last couple of days, which is a good sign.

How can NYSE:CRBG be traded?

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.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

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.