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Exploring FIDELITY NATIONAL FINANCIAL's Technical Signals and Breakout Potential.

By Mill Chart

Last update: Jan 29, 2024

FIDELITY NATIONAL FINANCIAL (NYSE:FNF) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:FNF.

FNF Daily chart on 2024-01-29

Technical Analysis Observations

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.

Overall FNF gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, FNF is showing a nice and steady performance.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • FNF is part of the Insurance industry. There are 142 other stocks in this industry. FNF outperforms 78% of them.
  • FNF 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 FNF has a been trading in the 47.58 - 51.48 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
  • Looking at the yearly performance, FNF did better than 82% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

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

Why is NYSE:FNF a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:FNF has a 9 as its setup rating:

FNF 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 50.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 49.34, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FNF in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.

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FIDELITY NATIONAL FINANCIAL

NYSE:FNF (5/24/2024, 7:04:00 PM)

After market: 50.75 0 (0%)

50.75

+0.84 (+1.68%)

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