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.
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.
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.
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.
WORLD WRESTLING ENTERTAIN-A
NYSE:WWE (5/25/2023, 7:17:46 PM)
After market: 101.53 0 (0%)101.53
-0.6 (-0.59%)
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