In-Depth Technical Analysis of TERRENO REALTY CORP (NYSE:TRNO).

Our stock screener has spotted TERRENO REALTY CORP (NYSE:TRNO) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:TRNO.

In-Depth Technical Analysis of NYSE:TRNO

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.

Taking everything into account, TRNO scores 8 out of 10 in our technical rating. Although TRNO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• TRNO is one of the better performing stocks in the Diversified REITs industry, it outperforms 80% of 128 stocks in the same industry.
• TRNO 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 TRNO is performing more or less in line with the market.
• In the last month TRNO has a been trading in the 63.91 - 68.22 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.
• Looking at the yearly performance, TRNO did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

For an up to date full technical analysis you can check the technical report of TRNO

Why is NYSE:TRNO a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:TRNO has a 10 as its setup rating:

Besides having an excellent technical rating, TRNO also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 67.25, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TRNO 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 can NYSE:TRNO be traded?

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.

Of course, there are many ways to trade or not trade NYSE:TRNO and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

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.