Uncovering Noteworthy Technical Analysis Findings for ROYALTY PHARMA PLC- CL A (NASDAQ:RPRX).

Our stock screener has spotted ROYALTY PHARMA PLC- CL A (NASDAQ:RPRX) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:RPRX.

Insights from Technical Analysis

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.

We assign a technical rating of 9 out of 10 to RPRX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RPRX is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• RPRX is one of the better performing stocks in the Pharmaceuticals industry, it outperforms 87% of 192 stocks in the same industry.
• RPRX is currently trading near its 52 week high. This is a good sign, certainly because the S&P500 Index is not trading near new highs.
• When comparing the yearly performance of all stocks, we notice that RPRX is one of the better performing stocks in the market, outperforming 90% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• In the last month RPRX has a been trading in the 32.00 - 34.20 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, RPRX exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

RPRX has an excellent technical rating and 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 33.54. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 33.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for RPRX in the last couple of days, which is a good sign.

How can RPRX be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade RPRX 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 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.