AVANTOR INC is showing promising signs of setting up for a breakout.

Our stock screener has spotted AVANTOR INC (NYSE:AVTR) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:AVTR.

Technical Analysis Observations

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.

Taking everything into account, AVTR 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, AVTR is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that AVTR is one of the better performing stocks in the market, outperforming 82% of all stocks.
• AVTR is part of the Life Sciences Tools & Services industry. There are 57 other stocks in this industry. AVTR outperforms 85% of them.
• AVTR is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so AVTR is lagging the market slightly.
• In the last month AVTR has a been trading in the 24.73 - 27.83 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How does the Setup look for NYSE:AVTR

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:AVTR currently has a 9 as setup rating:

AVTR has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 27.65. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 25.64, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed 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.

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.