BROOKFIELD ASSET MGMT-A (NYSE:BAM) Technical Analysis observations.

BROOKFIELD ASSET MGMT-A (NYSE:BAM) 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:BAM.

In-Depth Technical Analysis of NYSE:BAM

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

We assign a technical rating of 7 out of 10 to BAM. Both in the recent history as in the last year, BAM has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, BAM did better than 72% of all other stocks.
• BAM 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 BAM is lagging the market slightly.
• In the last month BAM has a been trading in the 37.74 - 40.69 range, which is quite wide. It is currently trading near the high of this range.
• BAM is part of the Capital Markets industry. There are 212 other stocks in this industry, BAM did better than 64% of them.

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

How does the Setup look for NYSE:BAM

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:BAM currently has a 9 as setup rating:

Besides having an excellent technical rating, BAM also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 41.13. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 40.28, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BAM in the last couple of days, which is a good sign.

How can NYSE:BAM be traded?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

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.

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.