NYSE:EQH may be ready to breakout.

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

Technical analysis of NYSE:EQH

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.

Taking everything into account, EQH scores 8 out of 10 in our technical rating. 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.

• The long and short term trends are both positive. This is looking good!
• EQH 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 EQH has a been trading in the 31.76 - 35.34 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the performance of all stocks over the past year, EQH turns out to be only a medium performer in the overall market: it outperformed 68% of all stocks.
• EQH is part of the Financial Services industry. There are 103 other stocks in this industry, EQH did better than 54% of them.

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

How does the Setup look for NYSE:EQH

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:EQH has a 9 as its setup rating:

EQH 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 a resistance zone just above the current price starting at 34.69. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EQH 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 can NYSE:EQH be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

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.

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.