ROYALTY PHARMA PLC- CL A (NASDAQ:RPRX) Technical Analysis observations.

Our stock screener has detected a potential breakout setup on ROYALTY PHARMA PLC- CL A (NASDAQ:RPRX). 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:RPRX.

Zooming in on the technicals.

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 7 out of 10 to RPRX. Both in the recent history as in the last year, RPRX has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• RPRX is part of the Pharmaceuticals industry. There are 198 other stocks in this industry. RPRX outperforms 83% of them.
• RPRX is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so RPRX slightly outperforms the market at the moment.
• In the last month RPRX has a been trading in the 29.66 - 33.00 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that RPRX is one of the better performing stocks in the market, outperforming 85% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

For an up to date full technical analysis you can check the technical report of RPRX

How does the Setup look for RPRX

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. RPRX currently has a 8 as setup rating:

Besides having an excellent technical rating, RPRX 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 33.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.68, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

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.

Keep in mind

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.