ING GROEP N.V.-SPONSORED ADR (NYSE:ING) – A Strong Technical Setup for Breakout Traders

ING GROEP N.V.-SPONSORED ADR (NYSE:ING) has been flagged by our technical breakout screener as a stock with a high-quality setup. The company, a Dutch multinational banking and financial services firm, currently shows strong technical health and a well-defined consolidation pattern, suggesting potential for a breakout.

Technical Strength

ING earns a Technical Rating of 9 out of 10, reflecting its strong upward momentum across multiple timeframes. Key observations from the technical report include:

• Positive Trends: Both short-term and long-term trends are upward, reinforcing the stock’s bullish stance.
• Relative Strength: ING is outperforming 81% of all stocks in the market and is trading near its 52-week high.
• Moving Averages: The stock is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, confirming broad-based support.
• Bull Flag Pattern: A brief pullback after a strong rally suggests a potential continuation of the uptrend.

Setup Quality

With a Setup Rating of 9, ING presents a well-defined consolidation pattern, offering a clear entry and exit strategy:

• Tight Trading Range: Over the past month, ING has traded between $20.64 and $21.76, indicating reduced volatility.
• Support and Resistance: A key support zone lies at $21.19, while resistance starts at $21.26. A breakout above resistance could signal a new upward move.
• Institutional Interest: Recent accumulation by large players and a Pocket Pivot signal suggest strong buying interest.
• Trade Setup: The report suggests an entry at $21.57 (above resistance) with a stop-loss at $20.98, limiting downside risk to 2.74%.

For traders looking for similar opportunities, our Technical Breakout Setups screener provides daily updates on high-probability setups.

Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk management before trading.