NYSE:XPO may be ready to breakout.

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.

Technical analysis of 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.

• The long and short term trends are both positive. This is looking good!
• XPO is part of the Ground Transportation industry. There are 45 other stocks in this industry. XPO outperforms 80% of them.
• XPO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• Looking at the yearly performance, XPO did better than 89% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• XPO is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so XPO is lagging the market slightly.

How does the Setup look for NYSE:XPO

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.

Trading setups like NYSE:XPO

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.