Will Expeditors Intl breakout?

A possible breakout setup was detected on Expeditors Intl (NASDAQ:EXPD) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:EXPD.

Zooming in on the technicals.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to EXPD. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, EXPD is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that EXPD is one of the better performing stocks in the market, outperforming 81% of all stocks. On top of that, EXPD also shows a nice and consistent pattern of rising prices.
• EXPD is one of the better performing stocks in the Air Freight & Logistics industry, it outperforms 71% of 14 stocks in the same industry.
• EXPD 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 EXPD has a been trading in a tight range between 123.29 and 129.26.

How do we evaluate the setup for NASDAQ:EXPD?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:EXPD scores a 8 out of 10:

Besides having an excellent technical rating, EXPD also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 128.63. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 128.1, a stop order could be placed below this zone.

Trading setups like NASDAQ:EXPD

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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