ANTERO RESOURCES CORP is setting up nicely for a breakout.

Our stock screener has detected a potential breakout setup on ANTERO RESOURCES CORP (NYSE:AR). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:AR.

Technical analysis of NYSE:AR

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 10 out of 10 to AR. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, AR 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, AR did better than 94% of all other stocks. On top of that, AR also shows a nice and consistent pattern of rising prices.
• AR is part of the Oil, Gas & Consumable Fuels industry. There are 213 other stocks in this industry. AR outperforms 91% of them.
• AR 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 AR has a been trading in the 32.02 - 35.83 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 AR for a complete technical analysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:AR has a 10 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, AR also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 35.12. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.40, 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. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:AR

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

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.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. 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.