Edwards Lifesciences Corp (NYSE:EW) - A Technical Breakout Candidate Worth Watching

Edwards Lifesciences Corp (NYSE:EW) has been identified as a potential breakout candidate by our technical screening process. The stock shows a combination of solid technical strength and a favorable setup pattern, making it an interesting opportunity for traders. Below, we examine why EW stands out.

Technical Strength

• Rating of 7/10: EW’s technical rating reflects a healthy trend, with both short-term and long-term momentum pointing upward.
• Relative Strength: The stock outperforms 71% of its peers in the Health Care Equipment & Supplies sector.
• Moving Averages: The stock trades above its 20-day, 50-day, 100-day, and 200-day moving averages, confirming bullish momentum.
• Recent Performance: Over the past month, EW has gained 8.5%, trading near the upper end of its recent range ($68.63 - $77.24).

Setup Quality

• Rating of 8/10: The setup score indicates a consolidation phase, suggesting a potential breakout opportunity.
• Resistance Zone: A key resistance level sits at $76.76. A breakout above this level could signal further upside.
• Support Levels: Multiple support zones exist below, including $70.78-$76.19, providing a clear stop-loss area.
• Pocket Pivot Signal: Recent price action shows accumulation, reinforcing the bullish case.

Trade Considerations

• Entry Point: A breakout above $76.77 could serve as an entry trigger.
• Stop-Loss: A stop below $73.60 (near recent lows) limits downside risk to ~4.1%.
• Volume: Average daily volume of ~4.86 million shares ensures liquidity.

For a deeper technical review, see the full Edwards Lifesciences technical report.

Our Technical Breakout Setups screener updates daily with new potential breakout candidates.

Disclaimer

This is not investment advice. Always conduct your own analysis before making trading decisions.