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

Our stock screener has identified KEURIG DR PEPPER INC (NASDAQ:KDP) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:KDP.

In-Depth Technical Analysis of NASDAQ:KDP

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 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.

• Both the short term and long term trends are positive. This is a very positive sign.
• KDP is one of the better performing stocks in the Beverages industry, it outperforms 87% 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.
• When comparing the yearly performance of all stocks, we notice that KDP is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this relatively good performance is mostly due to a recent big move.
• In the last month KDP has a been trading in a tight range between 33.34 and 35.00.

Our latest full technical report of KDP contains the most current technical analsysis.

Looking at the 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 NASDAQ:KDP this score is currently 9:

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 34.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.21, 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?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

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.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.