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The question on everyone's mind: Will COTERRA ENERGY INC breakout?

By Mill Chart

Last update: May 21, 2024

We've identified COTERRA ENERGY INC (NYSE:CTRA) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:CTRA for further developments.

CTRA Daily chart on 2024-05-21

Analyzing the Technical Aspects

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 7 out of 10 to CTRA. 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.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • CTRA 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 CTRA is lagging the market slightly.
  • In the last month CTRA has a been trading in the 26.66 - 28.86 range, which is quite wide. It is currently trading near the high of this range.
  • Prices have been consolidating recently, this may present a good entry opportunity.
  • 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 69% of all stocks.
  • CTRA is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 48% of 213 stocks in the same industry.

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

How does the Setup look 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 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 and the volatility has been reduced. There is a resistance zone just above the current price starting at 28.44. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.37, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.


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.