KEURIG DR PEPPER INC (NASDAQ:KDP) showing some interesting technicals. Here's why.

Our stockscreener has identified a possible breakout setup on KEURIG DR PEPPER INC (NASDAQ:KDP). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:KDP for potential opportunities.

Technical analysis of NASDAQ:KDP

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall KDP gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, KDP is only an average performer.

• The long and short term trends are both positive. This is looking good!
• KDP is part of the Beverages industry. There are 33 other stocks in this industry. KDP outperforms 78% of them.
• KDP 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.
• When comparing the performance of all stocks over the past year, KDP turns out to be only a medium performer in the overall market: it outperformed 66% of all stocks.
• In the last month KDP has a been trading in a tight range between 33.21 and 34.48.

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

Why is NASDAQ:KDP a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NASDAQ:KDP is 8:

Besides having an excellent technical rating, KDP also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 34.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 33.99, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:KDP

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.

Of course, there are many ways to trade or not trade NASDAQ:KDP and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

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.