News Image

NYSE:WWE may be ready to breakout.

By Mill Chart

Last update: May 26, 2023

Our stock screener has spotted WORLD WRESTLING ENTERTAIN-A (NYSE:WWE) 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:WWE.

WWE Daily chart on 2023-05-26

Zooming in on the technicals.

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 WWE gets a technical rating of 7 out of 10. In the last year, WWE was one of the better performers, but we do observe some doubts in the very recent evolution.

  • When comparing the yearly performance of all stocks, we notice that WWE is one of the better performing stocks in the market, outperforming 95% of all stocks. We also observe that the gains produced by WWE over the past year are nicely spread over this period.
  • WWE is part of the Entertainment industry. There are 85 other stocks in this industry. WWE outperforms 92% of them.
  • WWE is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so WWE is performing more or less in line with the market.
  • The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

How does the Setup look for NYSE:WWE

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:WWE this score is currently 8:

WWE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 101.52, a Stop Loss order could be placed below this zone.

Trading breakout setups.

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:WWE 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.



NYSE:WWE (5/25/2023, 7:17:46 PM)

After market: 101.53 0 (0%)


-0.6 (-0.59%)

WWE News

News Image27 minutes ago - ChartmillNYSE:WWE may be ready to breakout.
News Image8 days ago - InvestorPlace7 Short-Interest Stocks to Target for Explosive Gains

For contrarian investors that can stand the heat, short-interest stocks to buy can offer significant rewards in a short time period.

News Image8 days ago - WWEWWE® to Participate in JP Morgan Global Technology, Media & Communications Conference
News Image9 days ago - Market News VideoNotable Wednesday Option Activity: BBY, PFE, WWE
News Image9 days ago - SkyRyseAviation Technology Company Skyryse Appoints Blake Bilstad as Chief Legal Officer

/PRNewswire/ -- Skyryse™, bringing trust, safety, and the accessibility of flight through a highly-automated and touchscreen flight control system, has named...

News Image11 days ago - WWEWWE® To Participate in SVB MoffettNathanson Technology, Media & Telecom Conference
News Image11 days ago - Seeking AlphaWWE to issue 6.9M shares for $171M of convertible senior notes (NYSE:WWE)

WWE (WWE) enters agreement with certain investors to exchange 6.9M shares and $3.9M in cash for $171M principal amount of its outstanding 3.375% convertible senior notes due...

News Image11 days ago - WWEWWE® Announces Agreements to Issue 6.9 million Shares of its Common Stock in Exchange for $171.0 million of its 3.375% Convertible Senior Notes Due 2023
News Image14 days ago - WWEWWE® to Adjourn Annual Meeting Until May 31, 2023
News Image18 days ago - Market News VideoNoteworthy Monday Option Activity: OKTA, UNH, WWE
News Image18 days ago - WWEWWE® Delivers Record-Breaking Backlash in Puerto Rico
News Image21 days ago - WWEWWE® Announces Additional Canadian Dates to Live Event Schedule
WWE Links
Follow us for more