Promising Signs: BILL HOLDINGS INC Setting the Stage for a Breakout.

Our stock screener has flagged BILL HOLDINGS INC (NYSE:BILL) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:BILL for potential movement.

What is the technical picture of NYSE:BILL telling us.

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.

Taking everything into account, BILL scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• BILL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so BILL is performing more or less in line with the market.
• Looking at the yearly performance, BILL did better than 87% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• BILL is part of the Software industry. There are 280 other stocks in this industry, BILL did better than 69% of them.

For an up to date full technical analysis you can check the technical report of BILL

Why is NYSE:BILL a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:BILL has a 9 as its setup rating:

BILL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 85.92. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 82.48, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:BILL 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.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.