EQUITABLE HOLDINGS INC is showing promising signs of setting up for a breakout.

Our stock screener has spotted EQUITABLE HOLDINGS INC (NYSE:EQH) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:EQH.

Zooming in on the technicals.

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.

We assign a technical rating of 8 out of 10 to EQH. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, EQH is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month EQH has a been trading in the 27.02 - 29.48 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, EQH did better than 73% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• EQH is an average performer in the Financial Services industry, it outperforms 55% of 98 stocks in the same industry.
• EQH is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so EQH is lagging the market slightly.

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

Looking at the 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:EQH this score is currently 9:

EQH has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 29.17, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:EQH?

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.

Of course, there are many ways to trade or not trade NYSE:EQH and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

This article should in no way be interpreted as advice in any way. 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.