Technical Setup: PORTLAND GENERAL ELECTRIC CO Appears Poised for a Breakout.

PORTLAND GENERAL ELECTRIC CO (NYSE:POR) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:POR.

Zooming in on the technicals.

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.

We assign a technical rating of 7 out of 10 to POR. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, POR is a bad performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month POR has a been trading in the 42.63 - 45.48 range, which is quite wide. It is currently trading near the high of this range.
• POR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so POR is lagging the market.

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

How do we evaluate the setup for NYSE:POR?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:POR scores a 9 out of 10:

POR 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. There is a resistance zone just above the current price starting at 45.00. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for POR in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:POR?

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.

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.