Will FTAI AVIATION LTD breakout?

Our stock screener has spotted FTAI AVIATION LTD (NASDAQ:FTAI) 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 NASDAQ:FTAI.

Zooming in on the technicals.

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.

Taking everything into account, FTAI scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, FTAI is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, FTAI did better than 95% of all other stocks.
• FTAI is part of the Trading Companies & Distributors industry. There are 60 other stocks in this industry. FTAI outperforms 96% of them.
• FTAI is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so FTAI is leading the market.
• In the last month FTAI has a been trading in the 26.58 - 29.75 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

How do we evaluate the setup for NASDAQ:FTAI?

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. NASDAQ:FTAI currently has a 9 as setup rating:

Besides having an excellent technical rating, FTAI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 28.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FTAI in the last couple of days, which is a good sign.

Trading setups like NASDAQ:FTAI

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NASDAQ:FTAI 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.

More breakout setups can be found in our Breakout analyzer.