Will SENTINELONE INC -CLASS A Break Out? A Technical Analysis Perspective.

Our stock screener has detected a potential breakout setup on SENTINELONE INC -CLASS A (NYSE:S). 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:S.

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.

Overall S gets a technical rating of 9 out of 10. 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!
• Looking at the yearly performance, S did better than 77% of all other stocks.
• 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.
• In the last month S has a been trading in the 25.82 - 29.29 range, which is quite wide. It is currently trading near the high of this range.
• S is an average performer in the Software industry, it outperforms 54% of 278 stocks in the same industry.
• Volume is considerably higher in the last couple of days.

Check the latest full technical report of S for a complete technical analysis.

How do we evaluate the setup for NYSE:S?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:S currently has a 9 as setup rating:

Besides having an excellent technical rating, S also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 27.92, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:S

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

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.