There are signs that NYSE:WELL may be ready to breakout.

Our stock screener has identified WELLTOWER INC (NYSE:WELL) 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:WELL.

In-Depth Technical Analysis of NYSE:WELL

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 9 out of 10 to WELL. Both in the recent history as in the last year, WELL 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!
• When comparing the yearly performance of all stocks, we notice that WELL is one of the better performing stocks in the market, outperforming 93% of all stocks. On top of that, WELL also shows a nice and consistent pattern of rising prices.
• WELL is part of the Diversified REITs industry. There are 130 other stocks in this industry. WELL outperforms 98% of them.
• WELL is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so WELL is leading the market.
• In the last month WELL has a been trading in the 78.38 - 86.72 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of WELL

How do we evaluate the setup for NYSE:WELL?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:WELL currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, WELL 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 85.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 82.89, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:WELL

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed 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.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.