NATERA INC is showing promising signs of setting up for a breakout.

Our stock screener has detected a potential breakout setup on NATERA INC (NASDAQ:NTRA). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:NTRA.

Insights from Technical Analysis

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.

Overall NTRA gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NTRA is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, NTRA did better than 95% of all other stocks. On top of that, NTRA also shows a nice and consistent pattern of rising prices.
• NTRA is part of the Biotechnology industry. There are 588 other stocks in this industry. NTRA outperforms 87% of them.
• NTRA 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 NTRA is leading the market.
• In the last month NTRA has a been trading in the 87.35 - 98.82 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 NTRA

How do we evaluate the setup for NASDAQ:NTRA?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:NTRA currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

NTRA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 94.46, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NTRA in the last couple of days, which is a good sign.

Trading setups like NASDAQ:NTRA

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation 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.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.