MAPLEBEAR INC (NASDAQ:CART) showing some interesting technicals. Here's why.

MAPLEBEAR INC (NASDAQ:CART) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:CART.

Zooming in on the technicals.

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

Taking everything into account, CART 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.

• Looking at the yearly performance, CART did better than 92% of all other stocks. We also observe that the gains produced by CART over the past year are nicely spread over this period.
• CART is one of the better performing stocks in the Consumer Staples Distribution & Retail industry, it outperforms 78% of 43 stocks in the same industry.
• CART 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 CART is performing more or less in line with the market.
• The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

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

How does the Setup look for NASDAQ:CART

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 NASDAQ:CART is 8:

Besides having an excellent technical rating, CART also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 41.99, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:CART

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

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.