Technical Setup: COREBRIDGE FINANCIAL INC Appears Poised for a Breakout.

Our stock screener has identified COREBRIDGE FINANCIAL INC (NYSE:CRBG) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:CRBG.

Technical analysis of NYSE:CRBG

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 10 out of 10 to CRBG. Both in the recent history as in the last year, CRBG has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, CRBG did better than 90% of all other stocks. We also observe that the gains produced by CRBG over the past year are nicely spread over this period.
• CRBG is part of the Financial Services industry. There are 103 other stocks in this industry. CRBG outperforms 87% of them.
• CRBG 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 CRBG is lagging the market slightly.
• In the last month CRBG has a been trading in the 28.15 - 30.17 range, which is quite wide. It is currently trading near the high of this range.

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

Looking at the Setup

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:CRBG currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, CRBG also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 29.74, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:CRBG be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

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.