Good technical signals and a possible breakout for SS&C Technologies.

SS&C Technologies (NASDAQ:SSNC) 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 NASDAQ:SSNC.

Technical analysis of NASDAQ:SSNC

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, SSNC scores 8 out of 10 in our technical rating. Although SSNC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• SSNC is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month SSNC has a been trading in the 74.46 - 80.55 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• When comparing the performance of all stocks over the past year, SSNC turns out to be only a medium performer in the overall market: it outperformed 57% of all stocks.
• SSNC is an average performer in the Software industry, it outperforms 64% of 319 stocks in the same industry.

How does the Setup look for NASDAQ:SSNC

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:SSNC this score is currently 9:

SSNC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 79.81. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 79.47, a stop order could be placed below this zone. We notice that large players showed an interest for SSNC in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NASDAQ:SSNC

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout analyzer lists more breakout setups and is updated daily.