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COTERRA ENERGY INC (NYSE:CTRA) Technical Analysis observations.

By Mill Chart

Last update: Sep 14, 2023

Our stock screener has detected a potential breakout setup on COTERRA ENERGY INC (NYSE:CTRA). 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:CTRA.

CTRA Daily chart on 2023-09-14

Technical Analysis Observations

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.

Overall CTRA gets a technical rating of 8 out of 10. Although CTRA is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that CTRA is one of the better performing stocks in the market, outperforming 70% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
  • CTRA is part of the Oil, Gas & Consumable Fuels industry. There are 217 other stocks in this industry, CTRA did better than 49% of them.
  • CTRA is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CTRA is lagging the market slightly.
  • In the last month CTRA has a been trading in a tight range between 27.28 and 28.72.

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

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 level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:CTRA has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, CTRA also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 28.46. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.29, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CTRA in the last couple of days, which is a good sign.

How can NYSE:CTRA be traded?

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.


This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.