Based on good technical signals, FLUOR CORP is potentially setting up for a breakout.

We've identified FLUOR CORP (NYSE:FLR) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:FLR for further developments.

Analyzing the Technical Aspects

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.

Overall FLR gets a technical rating of 10 out of 10. Both in the recent history as in the last year, FLR has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that FLR is one of the better performing stocks in the market, outperforming 94% of all stocks. On top of that, FLR also shows a nice and consistent pattern of rising prices.
• FLR is one of the better performing stocks in the Construction & Engineering industry, it outperforms 78% of 42 stocks in the same industry.
• FLR is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so FLR is performing more or less in line with the market.
• In the last month FLR has a been trading in the 43.48 - 49.92 range, which is quite wide. It is currently trading near the high of this range.

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

Why is NYSE:FLR a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:FLR currently has a 9 as setup rating:

Besides having an excellent technical rating, FLR 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 47.83, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FLR in the last couple of days, which is a good sign.

How to trade NYSE:FLR?

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.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

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.