TE CONNECTIVITY LTD (NYSE:TEL) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

TE CONNECTIVITY LTD (NYSE:TEL) 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:TEL.

Zooming in on the technicals.

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

Overall TEL 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, TEL is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• TEL is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• When compared to the yearly performance of all other stocks, TEL outperforms 63% of them, which is more or less in line with the market.
• TEL is an average performer in the Electronic Equipment, Instruments & Components industry, it outperforms 66% of 127 stocks in the same industry.
• In the last month TEL has a been trading in a tight range between 144.95 and 153.54.

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

How does the Setup look for NYSE:TEL

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:TEL is 9:

TEL 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 a resistance zone just above the current price starting at 149.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 149.35, a Stop Loss order could be placed below this zone. 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.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

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.