DTE ENERGY COMPANY (NYSE:DTE) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

DTE ENERGY COMPANY (NYSE:DTE) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:DTE.

Zooming in on the technicals.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, DTE scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, DTE has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, DTE did better than 88% of all other stocks. We also observe that the gains produced by DTE over the past year are nicely spread over this period.
• DTE is part of the Multi-Utilities industry. There are 25 other stocks in this industry. DTE outperforms 79% of them.
• DTE 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 DTE slightly outperforms the market at the moment.
• DTE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

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

Why is NYSE:DTE a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:DTE is 7:

DTE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:DTE

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.

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.

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.