Will BELLRING BRANDS INC breakout?

Our stock screener has spotted BELLRING BRANDS INC (NYSE:BRBR) 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:BRBR.

Analyzing the Technical Aspects

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, BRBR 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 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!
• Looking at the yearly performance, BRBR did better than 84% of all other stocks.
• BRBR is part of the Personal Care Products industry. There are 37 other stocks in this industry. BRBR outperforms 88% of them.
• BRBR 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 BRBR is lagging the market slightly.
• In the last month BRBR has a been trading in the 71.56 - 80.67 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.

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

Why is NYSE:BRBR a setup?

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:BRBR currently has a 9 as setup rating:

Besides having an excellent technical rating, BRBR 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 78.60. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 76.88, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BRBR in the last couple of days, which is a good sign.

How to trade NYSE:BRBR?

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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice. 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.