Good technical signals and a possible breakout for TURQUOISE HILL RESOURCES LTD.

TURQUOISE HILL RESOURCES LTD (TRQ)       31.48   -0.07 (-0.22%)

After market: 31.55 +0.07 (+0.22%)

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Good technical signals and a possible breakout for TURQUOISE HILL RESOURCES LTD.2 months ago - Chartmill

Our stock screener has spotted TURQUOISE HILL RESOURCES LTD (NYSE:TRQ) 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 NYSE:TRQ.

TRQ Daily chart on 2022-09-27

Technical Analysis Observations

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and 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 99% of all other stocks.
  • TRQ is part of the Metals & Mining industry. There are 961 other stocks in this industry. TRQ outperforms 98% of them.
  • TRQ is currently trading in the upper part of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So TRQ is doing quite good in this market.
  • In the last month TRQ has a been trading in the 26.88 - 32.09 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:TRQ scores a 7 out of 10:

Although TRQ has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

Trading setups like NYSE:TRQ

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.

Of course, there are many ways to trade or not trade NYSE:TRQ 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.

More breakout setups can be found in our Breakout analyzer.


TRQ Links

TRQ News

News Image4 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. - TRQNews Image5 days ago - Market News VideoFirst Week of June 2023 Options Trading For Turquoise Hill Resources (TRQ)News Image9 days ago - Seeking AlphaTurquoise Hill Resources sets holder vote on Rio Tinto deal for Dec. 9 (TSX:TRQ:CA)

Turquoise  Hill Resources (TRQ) said a Canadian court set a date for its postponed shareholder meeting for its planned sale to Rio Tinto (RIO) for Dec

News Image10 days ago - Turquoise Hill Resources Ltd.Turquoise Hill Announces New Meeting Date and Additional Information In Connection With Arrangement With Rio TintoNews Image16 days ago - Seeking AlphaTurquoise Hill dissidents agreed to end previous deal with Rio Tinto (TSX:TRQ:CA)

Turquoise Hill Resources (TRQ) dissident investors are said to have agreed to end their previous agreement with Rio Tinto (RIO) in regard its acquisition of the miner.Pentwater...

News Image16 days ago - Turquoise Hill Resources Ltd.Turquoise Hill Acknowledges Announcement by Rio Tinto of Termination of Agreements with Certain Minority Shareholders of Turquoise Hill and Irrevocable offer to Dissenting ShareholdersNews Image17 days ago - Seeking AlphaRio Tinto cancels deal with Turquoise Hill dissident holders (NYSE:TRQ)

Rio Tinto (RIO) cancelled an agreement with Turquoise Hill (TRQ) shareholders who had publicly opposed the C$43/share sale agreed. Rio Tinto (RIO) terminated the agreement...

News Image20 days ago - Seeking AlphaTurquoise Hill Resources GAAP EPS of $0.23 beats by $0.30, revenue of $391.08M beats by $91.2M (NYSE:TRQ)

Turquoise Hill Resources press release (TRQ): Q3 GAAP EPS of $0.23 beats by $0.30.Revenue of $391.08M (-41.0% Y/Y) beats by $91.2M.Oyu Tolgoi surface operations1 and...

News Image20 days ago - Turquoise Hill Resources Ltd.Turquoise Hill Announces Financial Results and Review of Operations for the Third Quarter of 2022News Image23 days ago - BloombergMiner Rio Tinto’s Long-Awaited Deal Comeback Is Stuck in Limbo

Mining giant Rio Tinto Group is finding that its long-awaited return to cutting a major deal without the brash spending of its past is proving a challenge.

News Image25 days ago - Turquoise Hill Resources Ltd.Turquoise Hill Announces Postponement of Special MeetingNews Image25 days ago - FinancialNewsMediaGovernments Are Racing To Increase Rare Earth Capacity


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