By Mill Chart
Last update: Jun 24, 2022
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.
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.
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.
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.
WP CAREY INC
NYSE:WPC (3/28/2024, 8:04:00 PM)
After market: 56.68 +0.24 (+0.43%)56.44
+0.47 (+0.84%)
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