FTAI AVIATION LTD is showing promising signs of setting up for a 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.

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

Taking everything into account, FTAI scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, FTAI 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 FTAI is one of the better performing stocks in the market, outperforming 94% of all stocks. On top of that, FTAI also shows a nice and consistent pattern of rising prices.
• FTAI is part of the Trading Companies & Distributors industry. There are 62 other stocks in this industry. FTAI outperforms 93% of them.
• FTAI 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 FTAI has a been trading in the 27.29 - 30.26 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?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:FTAI scores a 9 out of 10:

Besides having an excellent technical rating, FTAI also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 29.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.72, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NASDAQ:FTAI

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.

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.

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