There are signs that NYSE:EQH may be ready to breakout.

Our stock screener has spotted EQUITABLE HOLDINGS INC (NYSE:EQH) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:EQH.

Technical Analysis Observations

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.

Taking everything into account, EQH scores 8 out of 10 in our technical rating. Although EQH is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• EQH is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month EQH has a been trading in the 31.76 - 34.82 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, EQH did better than 74% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• EQH is part of the Financial Services industry. There are 103 other stocks in this industry, EQH did better than 62% of them.

For an up to date full technical analysis you can check the technical report of EQH

Why is NYSE:EQH 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:EQH is 9:

EQH 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 34.50. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.46, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EQH in the last couple of days, which is a good sign.

Trading breakout setups.

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:EQH 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.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.