SPIRIT AEROSYSTEMS HOLD-CL A (NYSE:SPR) - A Strong Technical Setup With Breakout Potential

SPIRIT AEROSYSTEMS HOLD-CL A (NYSE:SPR) has been identified as a strong technical breakout candidate based on its high ChartMill Technical Rating and Setup Quality score. The stock is currently exhibiting a consolidation pattern with clear support and resistance levels, suggesting a potential breakout opportunity.

Technical Strength

• Perfect Technical Rating (10/10): SPR scores the highest possible rating, indicating strong technical health. Both short-term and long-term trends are positive.
• Market Outperformance: The stock has outperformed 85% of the market over the past year and is trading near its 52-week high, showing leadership relative to the broader S&P 500.
• Strong Moving Averages: SPR is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, confirming bullish momentum.

Setup Quality

• High Setup Rating (9/10): The stock is in a consolidation phase, with prices trading in a tight range between $36.32 and $38.43 over the past month.
• Clear Support & Resistance:
  • Support Zone: $37.04 - $37.82, backed by multiple trendlines and moving averages.
  • Resistance Zone: $37.95 - $38.20, which, if broken, could signal a new upward move.
• Institutional Interest: Large players have shown buying interest recently, adding confidence to the setup.

Potential Trade Setup

• Entry Point: A breakout above $38.21 could serve as a trigger for entry.
• Stop Loss: Placing a stop below $37.03 limits downside risk to ~3%.
• Volume Confirmation: Average daily volume of ~1.37 million shares ensures liquidity.

For more details, review the full technical analysis report for SPR.

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Disclaimer

This is not investment advice. Always conduct your own research and consider risk management before making trading decisions.