By Mill Chart
Last update: Jun 30, 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 7 out of 10. Although WPC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
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. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 83.5, a Stop Loss order could be placed below this zone.
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.
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.
Every day, new breakout setups can be found on ChartMill 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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