Technical Signals Point to a Possible Breakout for LIBERTY ENERGY INC.

Our stock screener has detected a potential breakout setup on LIBERTY ENERGY INC (NYSE:LBRT). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:LBRT.

What is the technical picture of NYSE:LBRT telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to LBRT. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, LBRT is only an average performer.

• The long and short term trends are both positive. This is looking good!
• LBRT is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 75% of 66 stocks in the same industry.
• LBRT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so LBRT is performing more or less in line with the market.
• LBRT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• When comparing the yearly performance of all stocks, we notice that LBRT is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this overall good ranking is mostly due to the recent strong move.

Check the latest full technical report of LBRT for a complete technical analysis.

Why is NYSE:LBRT 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:LBRT scores a 8 out of 10:

LBRT 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 20.15, a Stop Loss order could be placed below this zone.

Trading breakout setups.

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.

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.