Will LINDE PLC (NASDAQ:LIN) breakout?

Our stock screener has identified LINDE PLC (NASDAQ:LIN) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:LIN.

Deciphering the Technical Picture of NASDAQ:LIN

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, LIN scores 7 out of 10 in our technical rating. In the last year, LIN was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.

• Both the short term and long term trends are positive. This is a very positive sign.
• LIN is one of the better performing stocks in the Chemicals industry, it outperforms 72% of 85 stocks in the same industry.
• LIN is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so LIN slightly outperforms the market at the moment.
• When compared to the yearly performance of all other stocks, LIN outperforms 66% of them, which is more or less in line with the market.
• In the last month LIN has a been trading in a tight range between 450.00 and 472.24.
• Volume is considerably higher in the last couple of days.

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

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:LIN is 9:

Besides having an excellent technical rating, LIN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 478.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 465.47, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NASDAQ:LIN?

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.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill 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.