NYSE:CMA Shows Potential for a Breakout.

We've identified COMERICA INC (NYSE:CMA) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:CMA for further developments.

Analyzing the Technical Aspects

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, CMA scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CMA is only an average performer.

• The long and short term trends are both positive. This is looking good!
• CMA is part of the Banks industry. There are 411 other stocks in this industry. CMA outperforms 75% of them.
• CMA 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 CMA is performing more or less in line with the market.
• When comparing the performance of all stocks over the past year, CMA turns out to be only a medium performer in the overall market: it outperformed 68% of all stocks.
• In the last month CMA has a been trading in the 49.27 - 55.25 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

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:CMA is 10:

Besides having an excellent technical rating, CMA also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 53.55. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 52.50, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CMA in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:CMA 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.

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.

Keep in mind

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.