Based on good technical signals, SCHNEIDER NATIONAL INC-CL B is potentially setting up for a breakout.

SCHNEIDER NATIONAL INC-CL B (NYSE:SNDR) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:SNDR.

Technical analysis of NYSE:SNDR

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall SNDR gets a technical rating of 7 out of 10. 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.

• The long and short term trends are both positive. This is looking good!
• SNDR 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 SNDR is performing more or less in line with the market.
• 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 60% of all stocks.
• SNDR is part of the Ground Transportation industry. There are 37 other stocks in this industry, SNDR did better than 66% of them.
• In the last month SNDR has a been trading in a tight range between 26.24 and 27.57.

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

How does the Setup look for NYSE:SNDR

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:SNDR currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

SNDR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 26.65, 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.

How to trade NYSE:SNDR?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation 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.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.