Good technical signals and a possible breakout for MARSH & MCLENNAN COS.

MARSH & MCLENNAN COS (NYSE:MMC) 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:MMC.

Technical Analysis Observations

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.

Taking everything into account, MMC scores 8 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, MMC is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that MMC is one of the better performing stocks in the market, outperforming 85% of all stocks.
• MMC is one of the better performing stocks in the Insurance industry, it outperforms 76% of 142 stocks in the same industry.
• MMC 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 MMC is leading the market.
• In the last month MMC has a been trading in a tight range between 187.31 and 193.83.

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

How does the Setup look for NYSE:MMC

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:MMC has a 9 as its setup rating:

Besides having an excellent technical rating, MMC also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 192.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 190.36, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:MMC

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

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.

More breakout setups can be found 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.