By Mill Chart
Last update: May 25, 2023
A possible breakout setup was detected on XPO INC (NYSE:XPO) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:XPO.
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 XPO gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, XPO is only an average performer.
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. NYSE:XPO currently has a 8 as setup rating:
XPO 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 resistance zone just above the current price starting at 47.13. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 46.74, 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:XPO 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.
XPO INC
NYSE:XPO (5/24/2023, 7:04:00 PM)
After market: 46.8 +0.05 (+0.11%)46.75
-0.08 (-0.17%)
CarParts.com and XPO look well positioned for long-term growth.
XPO (XPO) on Wednesday priced its $700 million term loan facility, $830 million of senior secured notes due 2028, and $450 million of senior unsecured notes due 2031.
GREENWICH, Conn. , May 17, 2023 (GLOBE NEWSWIRE) -- XPO, Inc. (“XPO” or the “company”) (NYSE: XPO) today announced the pricing of its $700 million...
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GREENWICH, Conn., May 15, 2023 (GLOBE NEWSWIRE) -- XPO, Inc. (“XPO” or the “company”) (NYSE: XPO) today announced that it intends to refinance a portion...