KEYSIGHT TECHNOLOGIES IN is setting up nicely for a breakout.

Our stockscreener has identified a possible breakout setup on KEYSIGHT TECHNOLOGIES IN (NYSE:KEYS). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:KEYS for potential opportunities.

Insights from Technical Analysis

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall KEYS gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, KEYS is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, KEYS did better than 75% of all other stocks.
• KEYS is part of the Electronic Equipment, Instruments & Components industry. There are 126 other stocks in this industry. KEYS outperforms 72% of them.
• KEYS 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.
• In the last month KEYS has a been trading in the 149.07 - 160.71 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.

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

Why is NYSE:KEYS a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:KEYS currently has a 10 as setup rating:

Besides having an excellent technical rating, KEYS 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 159.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 158.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for KEYS in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

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.

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.