Good technical signals and a possible breakout for HEALTHPEAK PROPERTIES INC.

HEALTHPEAK PROPERTIES INC (NYSE:PEAK) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:PEAK.

Technical Analysis Observations

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.

Taking everything into account, PEAK scores 10 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, PEAK is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, PEAK did better than 76% of all other stocks. On top of that, PEAK also shows a nice and consistent pattern of rising prices.
• PEAK is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so PEAK is performing more or less in line with the market.
• PEAK is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• PEAK is an average performer in the Equity Real Estate Investment Trusts (REITs) industry, it outperforms 55% of 225 stocks in the same industry.

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:PEAK scores a 8 out of 10:

Besides having an excellent technical rating, PEAK 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 36.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 36.2, a Stop Loss order could be placed below this zone.

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.

Of course, there are many ways to trade or not trade NYSE:PEAK 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.

More breakout setups can be found in our Breakout analyzer.