By Mill Chart
Last update: Jun 29, 2022
WP Carey Inc (NYSE:WPC) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:WPC.
Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.
Overall WPC gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WPC is showing a nice and steady performance.
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:WPC scores a 8 out of 10:
Besides having an excellent technical rating, WPC 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 86.13. Right above this resistance zone may be a good entry point.
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.
Our Breakout analyzer lists more breakout setups and is updated daily.
WP CAREY INC
NYSE:WPC (4/18/2024, 7:04:00 PM)
After market: 54.77 +0.12 (+0.22%)54.65
+1.14 (+2.13%)
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