By Mill Chart
Last update: Aug 29, 2023
Our stock screener has flagged KKR & CO INC (NYSE:KKR) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:KKR for potential movement.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Taking everything into account, KKR scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, KKR is showing a nice and steady performance.
For an up to date full technical analysis you can check the technical report of KKR
Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:KKR currently holds a 10 as its setup rating, suggesting a particular level of consolidation in the stock.
KKR 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 61.31. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 60.32, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for KKR in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.
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.
Our Breakout screener lists more breakout setups and is updated daily.
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.
KKR & CO INC
NYSE:KKR (12/8/2023, 7:04:00 PM)After market: 76.95 0 (0%)
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