Good technical signals and a possible breakout for LPL Financial Holdings Inc.

LPL Financial Holdings Inc (LPLA)       187.59   -4.12 (-2.15%)

After market: 187.59 0 (0%)


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Good technical signals and a possible breakout for LPL Financial Holdings Inc.6 minutes ago - Chartmill

A possible breakout setup was detected on LPL Financial Holdings Inc (NASDAQ:LPLA) 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 NASDAQ:LPLA.

LPLA Daily chart on 2022-06-23

Technical analysis of NASDAQ:LPLA

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.

Overall LPLA gets a technical rating of 7 out of 10. In the last year, LPLA 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 LPLA is one of the better performing stocks in the market, outperforming 96% of all stocks. On top of that, LPLA also shows a nice and consistent pattern of rising prices.
  • LPLA is one of the better performing stocks in the Capital Markets industry, it outperforms 98% of 208 stocks in the same industry.
  • LPLA is currently trading in the middle of its 52 week range. The S&P500 Index is currently trading in the lower part of its 52 week range, so LPLA is still doing slightly better than the market.
  • In the last month LPLA has a been trading in the 177.26 - 204.37 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

How does the Setup look for NASDAQ:LPLA

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. NASDAQ:LPLA currently has a 7 as setup rating:

Besides having an excellent technical rating, LPLA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 186.78, a Stop Loss order could be placed below this zone.

How can NASDAQ:LPLA be traded?

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.

Of course, there are many ways to trade or not trade NASDAQ:LPLA and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

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