NYSE:AR may be ready to breakout.

Our stock screener has flagged ANTERO RESOURCES CORP (NYSE:AR) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:AR for potential movement.

Zooming in on the technicals.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall AR 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, AR is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month AR has a been trading in the 25.50 - 28.25 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When compared to the yearly performance of all other stocks, AR outperforms 42% of them, which is more or less in line with the market.
• AR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so AR is lagging the market.

Our latest full technical report of AR contains the most current technical analsysis.

How do we evaluate the setup for NYSE:AR?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:AR scores a 9 out of 10:

AR has an excellent technical rating and 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 27.87. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 26.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for AR in the last couple of days, which is a good sign.

How to trade NYSE:AR?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.