XPO INC (NYSE:XPO) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has identified XPO INC (NYSE:XPO) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:XPO.

In-Depth Technical Analysis of NYSE:XPO

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall XPO gets a technical rating of 10 out of 10. Both in the recent history as in the last year, XPO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, XPO did better than 98% of all other stocks. We also observe that the gains produced by XPO over the past year are nicely spread over this period.
• XPO is one of the better performing stocks in the Ground Transportation industry, it outperforms 94% of 37 stocks in the same industry.
• XPO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month XPO has a been trading in the 117.50 - 130.51 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Why is NYSE:XPO a setup?

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:XPO this score is currently 9:

XPO 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 127.97. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 122.03, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

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.

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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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.