Interesting Technical Analysis finding for AMPHENOL CORP-CL A (NYSE:APH)

Our stock screener has identified AMPHENOL CORP-CL A (NYSE:APH) 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:APH.

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 10 out of 10 to APH. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, APH is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, APH did better than 85% of all other stocks. We also observe that the gains produced by APH over the past year are nicely spread over this period.
• APH is part of the Electronic Equipment, Instruments & Components industry. There are 125 other stocks in this industry. APH outperforms 75% of them.
• APH 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 APH has a been trading in the 66.84 - 74.92 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.

For an up to date full technical analysis you can check the technical report of APH

How does the Setup look for NYSE:APH

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:APH currently has a 8 as setup rating:

Besides having an excellent technical rating, APH also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 73.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 72.16, a Stop Loss order could be placed below this zone.

How can NYSE:APH be traded?

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.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.