Based on good technical signals, LIBERTY ENERGY INC is potentially setting up for a breakout.

We've identified LIBERTY ENERGY INC (NYSE:LBRT) 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:LBRT for further developments.

Technical analysis of NYSE:LBRT

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 8 out of 10 to LBRT. In the last year, LBRT was one of the better performers, but we do observe some doubts in the very recent evolution.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• When comparing the yearly performance of all stocks, we notice that LBRT is one of the better performing stocks in the market, outperforming 90% of all stocks.
• LBRT is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 83% of 66 stocks in the same industry.
• LBRT 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 LBRT is lagging the market slightly.
• In the last month LBRT has a been trading in the 19.55 - 22.16 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:LBRT currently has a 9 as setup rating:

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 a resistance zone just above the current price starting at 21.55. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.43, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LBRT in the last couple of days, which is a good sign.

Trading breakout setups.

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.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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

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.