NYSE:WPC may be ready to breakout.

Our stock screener has spotted WP Carey Inc (NYSE:WPC) 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:WPC.

Technical analysis of NYSE:WPC

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.

Overall WPC gets a technical rating of 8 out of 10. Both in the recent history as in the last year, WPC has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that WPC is one of the better performing stocks in the market, outperforming 94% of all stocks.
• WPC is part of the Equity Real Estate Investment Trusts (REITs) industry. There are 224 other stocks in this industry. WPC outperforms 95% of them.
• WPC 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.
• In the last month WPC has a been trading in the 79.89 - 86.25 range, which is quite wide. It is currently trading near the high of this range.
• Volume is considerably higher in the last couple of days.

How does the Setup look for NYSE:WPC

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:WPC this score is currently 7:

Besides having an excellent technical rating, WPC also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 85.27. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 83.19, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:WPC?

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:WPC 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.