SCHNEIDER NATIONAL INC-CL B (NYSE:SNDR) showing some interesting technicals. Here's why.

SCHNEIDER NATIONAL INC-CL B (NYSE:SNDR) 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:SNDR.

Deciphering the Technical Picture of NYSE:SNDR

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 SNDR. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SNDR is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• SNDR 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 SNDR is lagging the market slightly.
• SNDR 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.
• When comparing the performance of all stocks over the past year, SNDR turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
• SNDR is an average performer in the Ground Transportation industry, it outperforms 61% of 37 stocks in the same industry.

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

How does the Setup look for NYSE:SNDR

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:SNDR currently has a 10 as setup rating:

SNDR 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 very little resistance above the current price. There is a support zone below the current price at 27.11, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SNDR in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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.