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NYSE:TRU may be ready to breakout.

By Mill Chart

Last update: Feb 13, 2024

A possible breakout setup was detected on TRANSUNION (NYSE:TRU) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:TRU.

TRU Daily chart on 2024-02-13

Analyzing the Technical Aspects

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, TRU scores 7 out of 10 in our technical rating. TRU has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • In the last month TRU has a been trading in the 66.46 - 71.29 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 TRU is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
  • TRU is an average performer in the Professional Services industry, it outperforms 67% of 80 stocks in the same industry.
  • TRU is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so TRU is lagging the market.

Check the latest full technical report of TRU for a complete technical analysis.

How do we evaluate the setup for NYSE:TRU?

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:TRU currently has a 9 as setup rating:

TRU 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. There is a resistance zone just above the current price starting at 70.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 70.40, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:TRU be traded?

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.

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.

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


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.