Will SPIRIT AEROSYSTEMS HOLD-CL A Break Out? A Technical Analysis Perspective.

Our stockscreener has identified a possible breakout setup on SPIRIT AEROSYSTEMS HOLD-CL A (NYSE:SPR). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:SPR for potential opportunities.

Zooming in on the technicals.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall SPR gets a technical rating of 8 out of 10. SPR has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that SPR is one of the better performing stocks in the market, outperforming 78% of all stocks.
• SPR 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 SPR is lagging the market slightly.
• In the last month SPR has a been trading in the 32.34 - 34.44 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• SPR is part of the Aerospace & Defense industry. There are 65 other stocks in this industry, SPR did better than 48% of them.

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

How does the Setup look for NYSE:SPR

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:SPR exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, SPR also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 33.86, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:SPR be traded?

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.

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.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.