Technical Breakout Setups. Analyze the stocks with the best technicals forming a breakout setup pattern at the moment.
Taking everything into account, CNA scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CNA is showing a nice and steady performance.
76.92
Besides having an excellent technical rating, CNA 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 120.36. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 117.63, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
Given the decent technical rating and the setup score, we can suggest the following trade.
ENTRY | EXIT | DISTANCE | CAPITAL |
---|---|---|---|
120.37 | 112.24 | 8.13 (6.75%) | 14.81% |
An entry @120.37. This is a Buy Stop order right above the resistance zone. | An exit @112.24. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 8.13 points, which is 6.75%. | When investing 14.81% of your capital in this trade, your total portfolio risk will be 1.00%. |