Kite Realty Group Trust is setting up nicely for a breakout.

Kite Realty Group Trust (NYSE:KRG) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:KRG.

Technical analysis of NYSE:KRG

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.

Taking everything into account, KRG scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, KRG has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, KRG did better than 83% of all other stocks. On top of that, KRG also shows a nice and consistent pattern of rising prices.
• KRG is part of the Equity Real Estate Investment Trusts (REITs) industry. There are 225 other stocks in this industry. KRG outperforms 81% of them.
• KRG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so KRG is lagging the market slightly.
• In the last month KRG has a been trading in the 19.93 - 22.41 range, which is quite wide. It is currently trading near the high of this range.

Why is NYSE:KRG a setup?

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. NYSE:KRG scores a 9 out of 10:

KRG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 22.1, a stop order could be placed below this zone. We notice that large players showed an interest for KRG in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:KRG?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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.

More breakout setups can be found in our Breakout analyzer.