TURQUOISE HILL RESOURCES LTD is setting up nicely for a breakout.

TURQUOISE HILL RESOURCES LTD (TRQ)       29.57   -0.3 (-1%)

After market: 29.57 0 (0%)


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TURQUOISE HILL RESOURCES LTD is setting up nicely for a breakout.9 days ago - Chartmill

TURQUOISE HILL RESOURCES LTD (NYSE:TRQ) 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:TRQ.

TRQ Daily chart on 2022-09-23

Technical Analysis Observations

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.

Overall TRQ gets a technical rating of 9 out of 10. Both in the recent history as in the last year, TRQ 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!
  • Looking at the yearly performance, TRQ did better than 98% of all other stocks.
  • TRQ is one of the better performing stocks in the Metals & Mining industry, it outperforms 98% of 955 stocks in the same industry.
  • TRQ is currently trading near its 52 week high, which is a good sign. Certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
  • TRQ 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.

Why is NYSE:TRQ a setup?

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. NYSE:TRQ currently has a 8 as setup rating:

TRQ 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. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 30.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TRQ in the last couple of days, which is a good sign.

How to trade NYSE:TRQ?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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.

More breakout setups can be found in our Breakout analyzer.

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TRQ News

News Image3 days ago - Turquoise Hill Resources Ltd.Turquoise Hill Announces Receipt of Interim Order for Proposed Arrangement with Rio Tinto and Provides Details of Shareholders’ MeetingNews Image4 days ago - ChartmillNYSE:TRQ may be ready to breakout.News Image5 days ago - Kahn Swick & Foti, LLCTURQUOISE HILL INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Turquoise Hill Resources Ltd. - TRQ

/PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the...

News Image5 days ago - ChartmillGood technical signals and a possible breakout for TURQUOISE HILL RESOURCES LTD.News Image6 days ago - ChartmillWill TURQUOISE HILL RESOURCES LTD breakout?News Image6 days ago - Halper Sadeh LLPSHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates GMTX, FMTX, TRQ, SGFY

/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...

News Image9 days ago - ChartmillTURQUOISE HILL RESOURCES LTD is setting up nicely for a breakout.News Image13 days ago - Halper Sadeh LLPSHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates IEA, CYBE, FMTX, TRQ

/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...

News Image18 days ago - Turquoise Hill Resources Ltd.U.S. Federal Court Dismisses Pentwater Class Action Against Turquoise HillNews Image23 days ago - BloombergRio Tinto Takeover of Giant Copper Mine Opposed by Top Investor

A top investor in Turquoise Hill Resources Ltd. is opposing a proposed takeover by Rio Tinto Plc, arguing the purchase price undervalues the company that’s behind one of the world’s largest copper mines.

News Imagea month ago - Halper Sadeh LLPSHAREHOLDER NOTICE: Halper Sadeh LLP Investigates STAR, MVBF, FMTX, TRQ

/PRNewswire/ -- Halper Sadeh LLP, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...

News Imagea month ago - Turquoise Hill Resources Ltd.Turquoise Hill Enters into Definitive Agreements with Rio Tinto

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