NYSE:LBRT may be ready to breakout.

Our stock screener has flagged LIBERTY ENERGY INC (NYSE:LBRT) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:LBRT for potential movement.

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.

We assign a technical rating of 10 out of 10 to LBRT. Both in the recent history as in the last year, LBRT 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, LBRT did better than 92% of all other stocks. On top of that, LBRT also shows a nice and consistent pattern of rising prices.
• LBRT is part of the Energy Equipment & Services industry. There are 65 other stocks in this industry. LBRT outperforms 78% of them.
• LBRT 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 LBRT has a been trading in the 20.91 - 23.46 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of LBRT for a complete technical analysis.

Why is NYSE:LBRT a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:LBRT is 9:

Besides having an excellent technical rating, LBRT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 21.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LBRT in the last couple of days, which is a good sign.

How to trade NYSE:LBRT?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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 in any way. 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.