Exploring ESSENTIAL UTILITIES INC (NYSE:WTRG)'s Technical Signals and Breakout Potential.

Our stock screener has flagged ESSENTIAL UTILITIES INC (NYSE:WTRG) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:WTRG for potential movement.

In-Depth Technical Analysis of WTRG

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall WTRG 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, WTRG is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• WTRG is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
• In the last month WTRG has a been trading in the 36.72 - 41.65 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that WTRG is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• WTRG is part of the Water Utilities industry. There are 14 other stocks in this industry, WTRG did better than 69% of them.

Check the latest full technical report of WTRG for a complete technical analysis.

How does the Setup look for WTRG

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. WTRG currently has a 8 as setup rating:

WTRG has an excellent technical rating and 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 40.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 39.23, a Stop Loss order could be placed below this zone.

How can WTRG be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.