Technical Signals Point to a Possible Breakout for CRH PLC.

Our stockscreener has identified a possible breakout setup on CRH PLC (NYSE:CRH). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:CRH for potential opportunities.

In-Depth Technical Analysis of NYSE:CRH

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.

Overall CRH gets a technical rating of 10 out of 10. Both in the recent history as in the last year, CRH 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!
• Looking at the yearly performance, CRH did better than 89% of all other stocks. On top of that, CRH also shows a nice and consistent pattern of rising prices.
• CRH is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• CRH is part of the Construction Materials industry. There are 12 other stocks in this industry, CRH did better than 63% of them.
• In the last month CRH has a been trading in the 87.67 - 94.14 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of CRH for a complete technical analysis.

How does the Setup look for NYSE:CRH

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:CRH currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

CRH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 90.81, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CRH 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 to trade NYSE:CRH?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

Disclaimer

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.