In-Depth Technical Analysis of GEN DIGITAL INC.

GEN DIGITAL INC (NASDAQ:GEN) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:GEN.

In-Depth Technical Analysis of NASDAQ:GEN

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 7 out of 10 to GEN. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, GEN is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• GEN 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 GEN is lagging the market slightly.
• Looking at the yearly performance, GEN did better than 81% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
• GEN is part of the Software industry. There are 279 other stocks in this industry, GEN did better than 60% of them.
• In the last month GEN has a been trading in a tight range between 22.24 and 23.50.

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

How do we evaluate the setup for NASDAQ:GEN?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:GEN this score is currently 10:

Besides having an excellent technical rating, GEN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 23.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.40, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GEN in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NASDAQ:GEN?

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.

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

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.