Technical Setup: SENTINELONE INC -CLASS A Appears Poised for a Breakout.

Our stock screener has flagged SENTINELONE INC -CLASS A (NYSE:S) 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:S for potential movement.

Analyzing the Technical Aspects

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, S scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, S has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• S is part of the Software industry. There are 279 other stocks in this industry. S outperforms 70% of them.
• S 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 S is lagging the market slightly.
• S is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• Looking at the yearly performance, S did better than 88% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.

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

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:S exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

S 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 27.86. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 26.84, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for S in the last couple of days, which is a good sign.

Trading breakout setups.

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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.