In-Depth Technical Analysis of SHELL PLC-ADR.

Our stock screener has identified SHELL PLC-ADR (NYSE:SHEL) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:SHEL.

Technical Analysis Observations

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

We assign a technical rating of 7 out of 10 to SHEL. In the last year, SHEL was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that SHEL is one of the better performing stocks in the market, outperforming 88% of all stocks. On top of that, SHEL also shows a nice and consistent pattern of rising prices.
• SHEL is part of the Oil, Gas & Consumable Fuels industry. There are 217 other stocks in this industry. SHEL outperforms 85% of them.
• SHEL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so SHEL is performing more or less in line with the market.
• In the last month SHEL has a been trading in the 64.30 - 68.74 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

For an up to date full technical analysis you can check the technical report of SHEL

Looking at the Setup

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:SHEL scores a 8 out of 10:

Besides having an excellent technical rating, SHEL also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 68.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 65.84, a Stop Loss order could be placed below this zone.

How to trade NYSE:SHEL?

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.

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

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.