LINDE PLC is showing promising signs of setting up for a breakout.

LINDE PLC (NYSE:LIN) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:LIN.

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

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, LIN 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, LIN is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that LIN is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, LIN also shows a nice and consistent pattern of rising prices.
• LIN is one of the better performing stocks in the Chemicals industry, it outperforms 85% of 86 stocks in the same industry.
• LIN 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 LIN is leading the market.
• In the last month LIN has a been trading in a tight range between 375.73 and 393.42.

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

How does the Setup look for NYSE:LIN

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:LIN has a 9 as its setup rating:

Besides having an excellent technical rating, LIN 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 389.79. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 388.59, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.