NYSE:KIM may be ready to breakout.

Our stock screener has spotted KIMCO REALTY CORP (NYSE:KIM) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:KIM.

Technical Analysis Observations

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.

We assign a technical rating of 10 out of 10 to KIM. Both in the recent history as in the last year, KIM has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, KIM did better than 76% of all other stocks. On top of that, KIM also shows a nice and consistent pattern of rising prices.
• KIM is part of the Diversified REITs industry. There are 129 other stocks in this industry. KIM outperforms 75% of them.
• KIM 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 KIM has a been trading in the 23.54 - 25.19 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.

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

Why is NYSE:KIM 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:KIM currently has a 8 as setup rating:

Besides having an excellent technical rating, KIM 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 24.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.49, a Stop Loss order could be placed below this zone.

How can NYSE:KIM be traded?

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.

Of course, there are many ways to trade or not trade NYSE:KIM 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.

More breakout setups can be found 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.