Interesting Technical Analysis finding for KEURIG DR PEPPER INC (NASDAQ:KDP)

A possible breakout setup was detected on KEURIG DR PEPPER INC (NASDAQ:KDP) 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 NASDAQ:KDP.

What is the technical picture of NASDAQ:KDP telling us.

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, KDP scores 9 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, KDP is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• KDP is one of the better performing stocks in the Beverages industry, it outperforms 84% of 33 stocks in the same industry.
• 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.
• Looking at the yearly performance, KDP did better than 81% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
• In the last month KDP has a been trading in a tight range between 33.34 and 35.00.

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

How do we evaluate the setup for NASDAQ:KDP?

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 9:

KDP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 34.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.41, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NASDAQ:KDP be traded?

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.

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 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.