Is FRONTIER COMMUNICATIONS PARE Ready to Break Out of Its Range?

We've identified FRONTIER COMMUNICATIONS PARE (NASDAQ:FYBR) 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 NASDAQ:FYBR for further developments.

What is the technical picture of NASDAQ:FYBR telling us.

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.

Taking everything into account, FYBR scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, FYBR has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• FYBR is part of the Diversified Telecommunication Services industry. There are 35 other stocks in this industry. FYBR outperforms 94% of them.
• FYBR 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 FYBR has a been trading in the 24.57 - 26.84 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, FYBR did better than 91% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.

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

Why is NASDAQ:FYBR a setup?

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. 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 26.29. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 25.62, 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. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

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.