INTL FLAVORS & FRAGRANCES is showing promising signs of setting up for a breakout.

A possible breakout setup was detected on INTL FLAVORS & FRAGRANCES (NYSE:IFF) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:IFF.

Zooming in on the technicals.

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.

Taking everything into account, IFF scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, IFF is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that IFF is one of the better performing stocks in the market, outperforming 89% of all stocks. We also observe that the gains produced by IFF over the past year are nicely spread over this period.
• IFF is one of the better performing stocks in the Chemicals industry, it outperforms 92% of 83 stocks in the same industry.
• IFF 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 IFF has a been trading in the 92.22 - 101.89 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Why is NYSE:IFF a setup?

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 NYSE:IFF this score is currently 9:

IFF has an excellent technical rating and 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 99.69. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 98.19, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for IFF in the last couple of days, which is a good sign.

How to trade NYSE:IFF?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

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.