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A technical analysis of CRH PLC.

By Mill Chart

Last update: Oct 6, 2023

A possible breakout setup was detected on CRH PLC (NYSE:CRH) 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:CRH.

CRH Daily chart on 2023-10-06

Analyzing the Technical Aspects

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.

Taking everything into account, CRH scores 7 out of 10 in our technical rating. In the last year, CRH was one of the better performers, but we do observe some doubts in the very recent evolution.

  • 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.
  • Looking at the yearly performance, CRH did better than 95% of all other stocks. We also observe that the gains produced by CRH over the past year are nicely spread over this period.
  • CRH is part of the Construction Materials industry. There are 12 other stocks in this industry. CRH outperforms 90% of them.
  • CRH is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so CRH slightly outperforms the market at the moment.
  • In the last month CRH has a been trading in the 52.60 - 57.04 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.

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

How do we evaluate the setup for NYSE:CRH?

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:CRH has a 8 as its setup rating:

CRH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 55.35, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:CRH

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:CRH 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.

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.

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CRH PLC

NYSE:CRH (5/21/2024, 7:17:14 PM)

After market: 81 -0.11 (-0.14%)

81.11

-0.74 (-0.9%)

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