In-Depth Technical Analysis of COREBRIDGE FINANCIAL INC.

A possible breakout setup was detected on COREBRIDGE FINANCIAL INC (NYSE:CRBG) 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:CRBG.

Insights from Technical Analysis

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, CRBG scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CRBG is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, CRBG did better than 93% of all other stocks. On top of that, CRBG also shows a nice and consistent pattern of rising prices.
• CRBG is part of the Financial Services industry. There are 101 other stocks in this industry. CRBG outperforms 92% of them.
• 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 26.90 - 34.66 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:CRBG has a 8 as its setup rating:

Besides having an excellent technical rating, CRBG also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 28.52, a Stop Loss order could be placed below this zone.

How to trade NYSE:CRBG?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Of course, there are many ways to trade or not trade NYSE:CRBG and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

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.