Exploring KENVUE INC's Technical Signals and Breakout Potential.

We've identified KENVUE INC (NYSE:KVUE) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:KVUE for further developments.

Technical analysis of NYSE:KVUE

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall KVUE 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, KVUE is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• KVUE is part of the Personal Care Products industry. There are 36 other stocks in this industry. KVUE outperforms 80% of them.
• KVUE is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month KVUE has a been trading in the 22.04 - 24.40 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the performance of all stocks over the past year, KVUE turns out to be only a medium performer in the overall market: it outperformed 65% of all stocks.

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

Looking at the Setup

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:KVUE currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

KVUE has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 24.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.78, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:KVUE?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.

Keep in mind

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.