Good technical signals and a possible breakout for SPIRIT AEROSYSTEMS HOLD-CL A.

SPIRIT AEROSYSTEMS HOLD-CL A (NYSE:SPR) 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:SPR.

What is the technical picture of NYSE:SPR telling us.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall SPR gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SPR is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that SPR is one of the better performing stocks in the market, outperforming 79% 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.
• SPR is part of the Aerospace & Defense industry. There are 65 other stocks in this industry, SPR did better than 53% of them.
• In the last month SPR has a been trading in a tight range between 33.39 and 35.15.

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

Looking at the Setup

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:SPR is 9:

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 34.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SPR in the last couple of days, which is a good sign.

Trading setups like NYSE:SPR

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.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

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.