There are signs that NYSE:CRBG may be ready to breakout.

Our stock screener has detected a potential breakout setup on COREBRIDGE FINANCIAL INC (NYSE:CRBG). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:CRBG.

Technical analysis of NYSE:CRBG

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall CRBG gets a technical rating of 10 out of 10. 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.

• The long and short term trends are both positive. This is looking good!
• 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 98 other stocks in this industry. CRBG outperforms 80% 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.

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

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:CRBG exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, CRBG also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 32.06. Right above this resistance zone may be a good entry point. 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. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:CRBG

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.

Every day, new breakout setups can be found on ChartMill 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.