HF SINCLAIR CORP (NYSE:DINO) showing some interesting technicals. Here's why.

Our stock screener has detected a potential breakout setup on HF SINCLAIR CORP (NYSE:DINO). 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:DINO.

Zooming in on the technicals.

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.

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

• The long and short term trends are both positive. This is looking good!
• DINO is part of the Oil, Gas & Consumable Fuels industry. There are 217 other stocks in this industry. DINO outperforms 75% of them.
• Looking at the yearly performance, DINO did better than 88% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
• DINO 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 DINO is lagging the market slightly.
• In the last month DINO has a been trading in the 54.77 - 59.61 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How does the Setup look for NYSE:DINO

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:DINO currently has a 9 as setup rating:

Besides having an excellent technical rating, DINO also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 58.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for DINO in the last couple of days, which is a good sign.

How to trade NYSE:DINO?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

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.

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.