Interesting Technical Analysis finding for NNN REIT INC (NYSE:NNN)

Our stock screener has flagged NNN REIT INC (NYSE:NNN) 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:NNN for potential movement.

Deciphering the Technical Picture of NYSE:NNN

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall NNN gets a technical rating of 10 out of 10. Both in the recent history as in the last year, NNN 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, NNN did better than 82% of all other stocks. On top of that, NNN also shows a nice and consistent pattern of rising prices.
• NNN is one of the better performing stocks in the Diversified REITs industry, it outperforms 73% of 127 stocks in the same industry.
• NNN is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so NNN is leading the market.
• In the last month NNN has a been trading in the 44.44 - 47.19 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• 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 NNN

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:NNN currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

NNN 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. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 46.58. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 46.10, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:NNN 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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.