Uncovering Noteworthy Technical Analysis Findings for PEMBINA PIPELINE CORP (NYSE:PBA).

Our stock screener has detected a potential breakout setup on PEMBINA PIPELINE CORP (NYSE:PBA). 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:PBA.

Deciphering the Technical Picture of NYSE:PBA

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, PBA scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, PBA is only an average performer.

• The long and short term trends are both positive. This is looking good!
• PBA is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 71% of 217 stocks in the same industry.
• PBA is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PBA is lagging the market slightly.
• In the last month PBA has a been trading in the 32.39 - 34.77 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, PBA outperforms 54% of them, which is more or less in line with the market.

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

Why is NYSE:PBA a 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:PBA currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, PBA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 34.43. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 33.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for PBA in the last couple of days, which is a good sign.

How to trade NYSE:PBA?

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

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.