Will EQUITABLE HOLDINGS INC breakout?

EQUITABLE HOLDINGS INC (NYSE:EQH) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:EQH.

Technical analysis of NYSE:EQH

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.

We assign a technical rating of 8 out of 10 to EQH. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, EQH is only an average performer.

• The long and short term trends are both positive. This is looking good!
• In the last month EQH has a been trading in the 28.02 - 31.71 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, EQH did better than 76% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
• EQH is part of the Diversified Financial Services industry. There are 29 other stocks in this industry, EQH did better than 65% of them.
• EQH is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

How do we evaluate the setup for NYSE:EQH?

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:EQH currently has a 9 as setup rating:

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 32.13. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 30.53, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

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.

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 analyzer.