By Mill Chart
Last update: Nov 24, 2023
Our stock screener has identified TOTALENERGIES SE -SPON ADR (NYSE:TTE) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:TTE.
ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.
We assign a technical rating of 8 out of 10 to TTE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TTE is showing a nice and steady performance.
Check the latest full technical report of TTE for a complete technical analysis.
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:TTE scores a 8 out of 10:
Besides having an excellent technical rating, TTE also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 68.10. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 67.33, a Stop Loss order could be placed below this zone.
One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.
Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.
Our Breakout screener lists more breakout setups and is updated daily.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
TOTALENERGIES SE -SPON ADR
NYSE:TTE (2/22/2024, 9:46:00 AM)
TotalEnergies agreed to supply sustainable aviation fuel to Airbus, contributing to the reduction of CO2 emissions and decarbonization of the aviation industry.
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Eni drills second well to appraise Cronos gas discovery offshore Cyprus, aiming to fast-track project towards commercialization.
These two high-yield energy stocks offer investors attractive value and the opportunity for years of income ahead.
TotalEnergies CEO warns governments are downplaying the cost of energy transition and are "naive" to think they can cut oil and gas production before securing sufficient renewable energy.
TotalEnergies plans to sell its stake in a Nigerian onshore oil venture due to environmental concerns and costly repairs, following Shell's exit.
Netherlands pension fund divests from Shell, BP, and TotalEnergies due to slow transition to low-carbon fuels.
TotalEnergies' Port Arthur refinery in Texas shuts down again, just days after restarting following a winter storm-induced power outage.
TotalEnergies reported lower than expected Q4 earnings and warned of weak refining margins this year.
TotalEnergies press release (TTE): Q4 Non-GAAP EPS of $2.16. Revenue of $54.77B (-14.4% Y/Y). Outlook: First quarter 2024 expected hydrocarbon
TotalEnergies starts production from Akpo West field offshore Nigeria, expecting high condensate and gas production.
TotalEnergies (TTE) declares €0.79/share interim dividend, 6.8% increase from prior dividend of €0.74. Payable July 1 to shareholders and July 11 to ADS holders