BROOKFIELD CORP is showing promising signs of setting up for a breakout.

Our stock screener has spotted BROOKFIELD CORP (NYSE:BN) 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:BN.

Analyzing the Technical Aspects

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.

Taking everything into account, BN scores 8 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 long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, BN did better than 85% of all other stocks. On top of that, BN also shows a nice and consistent pattern of rising prices.
• BN is part of the Capital Markets industry. There are 210 other stocks in this industry. BN outperforms 83% of them.
• BN 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 BN is lagging the market slightly.

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

How does the Setup look for NYSE:BN

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:BN is 9:

Besides having an excellent technical rating, BN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 44.79. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 42.61, 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.

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

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.