Technical Insights for HEALTHPEAK PROPERTIES INC (NYSE:DOC): Is a Breakout Imminent?

Our stock screener has flagged HEALTHPEAK PROPERTIES INC (NYSE:DOC) 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:DOC for potential movement.

What is the technical picture of NYSE:DOC telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 9 out of 10 to DOC. Both in the recent history as in the last year, DOC 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 DOC is one of the better performing stocks in the market, outperforming 90% of all stocks.
• DOC is one of the better performing stocks in the Diversified REITs industry, it outperforms 93% of 129 stocks in the same industry.
• DOC 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.
• In the last month DOC has a been trading in the 21.57 - 23.26 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.

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

Why is NYSE:DOC a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:DOC this score is currently 8:

Besides having an excellent technical rating, DOC 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 22.77. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.46, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:DOC

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.

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.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.