A technical analysis of GODADDY INC - CLASS A.

Our stock screener has spotted GODADDY INC - CLASS A (NYSE:GDDY) 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 NYSE:GDDY.

In-Depth Technical Analysis of NYSE:GDDY

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

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

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, GDDY did better than 97% of all other stocks. We also observe that the gains produced by GDDY over the past year are nicely spread over this period.
• GDDY is one of the better performing stocks in the IT Services industry, it outperforms 96% of 85 stocks in the same industry.
• GDDY is currently trading near its 52 week high. This is a good sign, certainly because the S&P500 Index is not trading near new highs.
• In the last month GDDY has a been trading in the 140.11 - 152.09 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

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

How do we evaluate the setup for NYSE:GDDY?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:GDDY is 7:

Besides having an excellent technical rating, GDDY also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 151.26. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 145.04, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:GDDY?

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.

Of course, there are many ways to trade or not trade NYSE:GDDY 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 screener.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.