Will ANTERO RESOURCES CORP breakout?

Our stock screener has identified ANTERO RESOURCES CORP (NYSE:AR) 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:AR.

Analyzing the Technical Aspects

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, AR scores 8 out of 10 in our technical rating. In the last year, AR was one of the better performers, but we do observe some doubts in the very recent evolution.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• When comparing the yearly performance of all stocks, we notice that AR is one of the better performing stocks in the market, outperforming 87% of all stocks.
• AR is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 86% of 205 stocks in the same industry.
• AR is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so AR is lagging the market slightly.

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

How does the Setup look for NYSE:AR

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:AR currently has a 8 as setup rating:

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 32.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 30.85, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:AR be traded?

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.

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.

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.