In-Depth Technical Analysis of KENVUE INC.

Our stock screener has detected a potential breakout setup on KENVUE INC (NYSE:KVUE). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:KVUE.

Technical analysis of NYSE:KVUE

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, KVUE scores 8 out of 10 in our technical rating. Although KVUE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• 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 74% of them.
• KVUE 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 KVUE has a been trading in the 22.04 - 24.46 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 57% of all stocks.

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

Why is NYSE:KVUE a 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 NYSE:KVUE this score is currently 8:

KVUE has an excellent technical rating and 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 24.27. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.02, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

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.

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.