Promising Signs: BALL CORP Setting the Stage for a Breakout.

BALL CORP (NYSE:BALL) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:BALL.

In-Depth Technical Analysis of NYSE:BALL

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall BALL gets a technical rating of 9 out of 10. Both in the recent history as in the last year, BALL has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that BALL is one of the better performing stocks in the market, outperforming 85% of all stocks. We also observe that the gains produced by BALL over the past year are nicely spread over this period.
• BALL is one of the better performing stocks in the Containers & Packaging industry, it outperforms 77% of 23 stocks in the same industry.
• BALL 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 BALL has a been trading in the 66.45 - 70.97 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.

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

Why is NYSE:BALL a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:BALL is 9:

Besides having an excellent technical rating, BALL also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 69.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 67.77, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BALL 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:BALL

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

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.

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

Keep in mind

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.