Based on good technical signals, JABIL INC (NYSE:JBL) is potentially setting up for a breakout.

We've identified JABIL INC (NYSE:JBL) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:JBL for further developments.

What is the technical picture of JBL telling us.

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall JBL gets a technical rating of 7 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, JBL is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• JBL is part of the Electronic Equipment, Instruments & Components industry. There are 125 other stocks in this industry. JBL outperforms 76% of them.
• In the last month JBL has a been trading in the 117.74 - 152.10 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, JBL did better than 84% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
• JBL 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.

Our latest full technical report of JBL contains the most current technical analsysis.

How does the Setup look for JBL

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, JBL has a 7 as its setup rating:

Besides having an excellent technical rating, JBL also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 150.37. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.

Trading setups like JBL

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Of course, there are many ways to trade or not trade JBL 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.

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

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.