Interesting Technical Analysis finding for LIBERTY ENERGY INC (NYSE:LBRT)

A possible breakout setup was detected on LIBERTY ENERGY INC (NYSE:LBRT) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:LBRT.

Insights from Technical Analysis

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.

We assign a technical rating of 10 out of 10 to LBRT. Both in the recent history as in the last year, LBRT has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that LBRT is one of the better performing stocks in the market, outperforming 93% of all stocks. On top of that, LBRT also shows a nice and consistent pattern of rising prices.
• LBRT is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 85% of 65 stocks in the same industry.
• LBRT is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so LBRT is leading the market.
• In the last month LBRT has a been trading in the 20.01 - 23.31 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of LBRT

Why is NYSE:LBRT a setup?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:LBRT exhibits a 10 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, LBRT also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 22.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.30, 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. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:LBRT?

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.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.