NYSE:CFG Shows Potential for a Breakout.

CITIZENS FINANCIAL GROUP (NYSE:CFG) 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 NYSE:CFG.

In-Depth Technical Analysis of NYSE:CFG

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.

We assign a technical rating of 8 out of 10 to CFG. 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.
• When comparing the yearly performance of all stocks, we notice that CFG is one of the better performing stocks in the market, outperforming 86% of all stocks. We also observe that the gains produced by CFG over the past year are nicely spread over this period.
• CFG is one of the better performing stocks in the Banks industry, it outperforms 85% of 404 stocks in the same industry.
• CFG 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 CFG is lagging the market slightly.
• In the last month CFG has a been trading in the 45.53 - 48.88 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.

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

How does the Setup look for NYSE:CFG

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:CFG has a 9 as its setup rating:

CFG 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 48.15. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 47.24, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:CFG be traded?

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

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.