EMERSON ELECTRIC CO (NYSE:EMR) Technical Analysis observations.

Our stock screener has flagged EMERSON ELECTRIC CO (NYSE:EMR) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:EMR for potential movement.

Zooming in on the technicals.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, EMR scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, EMR is only an average performer.

• The long and short term trends are both positive. This is looking good!
• EMR is one of the better performing stocks in the Electrical Equipment industry, it outperforms 80% of 87 stocks in the same industry.
• EMR is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so EMR is leading the market.
• Looking at the yearly performance, EMR did better than 89% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• In the last month EMR has a been trading in a tight range between 94.14 and 99.65.

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

Why is NYSE:EMR a setup?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:EMR is 9:

EMR has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 98.96. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 98.51, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NYSE:EMR and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

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.