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

FISERV INC (NYSE:FI) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:FI.

Deciphering the Technical Picture of NYSE:FI

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

Overall FI gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, FI is a bad performer.

• The long and short term trends are both positive. This is looking good!
• In the last month FI has a been trading in the 136.93 - 145.87 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.

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

How do we evaluate the setup for NYSE:FI?

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:FI this score is currently 9:

FI 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 144.99. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 144.85, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FI in the last couple of days, which is a good sign.

Trading setups like NYSE:FI

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.

More breakout setups can be found 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.