The question on everyone's mind: Will FRONTIER COMMUNICATIONS PARE breakout?

Our stock screener has flagged FRONTIER COMMUNICATIONS PARE (NASDAQ:FYBR) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:FYBR for potential movement.

Deciphering the Technical Picture of NASDAQ:FYBR

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, FYBR scores 7 out of 10 in our technical rating. Although FYBR is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• FYBR is one of the better performing stocks in the Diversified Telecommunication Services industry, it outperforms 71% of 36 stocks in the same industry.
• FYBR is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so FYBR is lagging the market slightly.
• When compared to the yearly performance of all other stocks, FYBR outperforms 45% of them, which is more or less in line with the market.
• In the last month FYBR has a been trading in the 22.55 - 25.39 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NASDAQ:FYBR?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:FYBR currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, FYBR 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 25.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.93, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FYBR in the last couple of days, which is a good sign.

Trading breakout setups.

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.

Every day, new breakout setups can be found on ChartMill 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.