In-Depth Technical Analysis of HOWMET AEROSPACE INC.

Our stock screener has detected a potential breakout setup on HOWMET AEROSPACE INC (NYSE:HWM). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:HWM.

Insights from Technical Analysis

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.

Overall HWM gets a technical rating of 10 out of 10. Both in the recent history as in the last year, HWM 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.
• Looking at the yearly performance, HWM did better than 92% of all other stocks. We also observe that the gains produced by HWM over the past year are nicely spread over this period.
• HWM is part of the Aerospace & Defense industry. There are 65 other stocks in this industry. HWM outperforms 82% of them.
• HWM is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so HWM is leading the market.
• In the last month HWM has a been trading in the 76.85 - 83.96 range, which is quite wide. It is currently trading near the high of this range.

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

How does the Setup look for NYSE:HWM

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. NYSE:HWM currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

HWM has an excellent technical rating and 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 84.72. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 81.30, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:HWM?

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.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

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.