LINDE PLC (NASDAQ:LIN) may be ready to breakout.

LINDE PLC (NASDAQ:LIN) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:LIN.

In-Depth Technical Analysis of LIN

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, LIN scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, LIN 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.
• LIN is one of the better performing stocks in the Chemicals industry, it outperforms 86% of 84 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 comparing the yearly performance of all stocks, we notice that LIN is one of the better performing stocks in the market, outperforming 83% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• In the last month LIN has a been trading in a tight range between 447.50 and 472.01.

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

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, LIN has a 8 as its setup rating:

LIN has an excellent technical rating and 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.

How can LIN be traded?

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.

Of course, there are many ways to trade or not trade LIN 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.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.