NYSE:INVH Shows Potential for a Breakout.

We've identified INVITATION HOMES INC (NYSE:INVH) 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 NYSE:INVH for further developments.

Analyzing the Technical Aspects

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.

Overall INVH gets a technical rating of 7 out of 10. Although INVH is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• INVH 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 INVH is lagging the market slightly.
• In the last month INVH has a been trading in the 33.52 - 35.94 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, INVH outperforms 62% of them, which is more or less in line with the market.
• INVH is part of the Residential REITs industry. There are 21 other stocks in this industry, INVH did better than 60% of them.

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

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

INVH 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 35.74. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 35.41, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for INVH in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:INVH be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation 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.

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.