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A technical analysis of COTERRA ENERGY INC.

By Mill Chart

Last update: May 16, 2024

COTERRA ENERGY INC (NYSE:CTRA) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:CTRA.

CTRA Daily chart on 2024-05-16

Insights from Technical Analysis

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

Overall CTRA gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CTRA is only an average performer.

  • 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.
  • In the last month CTRA has a been trading in the 26.66 - 28.86 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.
  • When comparing the performance of all stocks over the past year, CTRA turns out to be only a medium performer in the overall market: it outperformed 63% of all stocks.
  • CTRA is part of the Oil, Gas & Consumable Fuels industry. There are 213 other stocks in this industry, CTRA did better than 45% of them.
  • CTRA is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CTRA is lagging the market.

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

How do we evaluate the setup for NYSE:CTRA?

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:CTRA has a 8 as its setup rating:

CTRA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 27.59, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:CTRA

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.

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.

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

Keep in mind

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.



NYSE:CTRA (5/29/2024, 7:04:00 PM)

Premarket: 27.7085 +0.26 (+0.94%)


-0.11 (-0.4%)


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