Will SCHWAB (CHARLES) CORP Break Out? A Technical Analysis Perspective.

SCHWAB (CHARLES) CORP (NYSE:SCHW) 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:SCHW.

Analyzing the Technical Aspects

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, SCHW scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SCHW is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• SCHW is one of the better performing stocks in the Capital Markets industry, it outperforms 75% of 220 stocks in the same industry.
• SCHW is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• When comparing the yearly performance of all stocks, we notice that SCHW is one of the better performing stocks in the market, outperforming 82% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• In the last month SCHW has a been trading in a tight range between 79.42 and 83.35.

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

How does the Setup look for NYSE:SCHW

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:SCHW currently has a 9 as setup rating:

SCHW 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 82.86. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 81.92, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading 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:SCHW 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.

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.