NYSE:INVH Shows Potential for a Breakout.

Our stock screener has detected a potential breakout setup on INVITATION HOMES INC (NYSE:INVH). 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:INVH.

In-Depth Technical Analysis of NYSE:INVH

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, INVH scores 7 out of 10 in our technical rating. 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 34.03 - 36.16 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• When comparing the performance of all stocks over the past year, INVH turns out to be only a medium performer in the overall market: it outperformed 55% of all stocks.

For an up to date full technical analysis you can check the technical report of INVH

Looking at the 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.

Besides having an excellent technical rating, INVH also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 35.90. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 35.61, 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.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed 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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

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.