NYSE:CRBG Shows Potential for a Breakout.

Our stock screener has flagged COREBRIDGE FINANCIAL INC (NYSE:CRBG) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:CRBG for potential movement.

In-Depth Technical Analysis of NYSE:CRBG

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall CRBG gets a technical rating of 9 out of 10. 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!
• When comparing the yearly performance of all stocks, we notice that CRBG is one of the better performing stocks in the market, outperforming 85% of all stocks. On top of that, CRBG also shows a nice and consistent pattern of rising prices.
• CRBG is part of the Financial Services industry. There are 100 other stocks in this industry. CRBG outperforms 78% 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 29.82 - 33.82 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 CRBG contains the most current technical analsysis.

How do we evaluate the setup for NYSE:CRBG?

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:CRBG is 9:

CRBG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 31.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CRBG in the last couple of days, which is a good sign.

Trading setups like NYSE:CRBG

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.

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.