Interesting Technical Analysis finding for URBAN OUTFITTERS INC (NASDAQ:URBN)

Our stock screener has detected a potential breakout setup on URBAN OUTFITTERS INC (NASDAQ:URBN). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:URBN.

Technical Analysis Observations

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.

We assign a technical rating of 7 out of 10 to URBN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, URBN is showing a nice and steady performance.

• 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 URBN is one of the better performing stocks in the market, outperforming 92% of all stocks.
• URBN is part of the Specialty Retail industry. There are 131 other stocks in this industry. URBN outperforms 90% of them.
• URBN is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so URBN slightly outperforms the market at the moment.
• In the last month URBN has a been trading in the 30.68 - 34.75 range, which is quite wide. It is currently trading near the high of this range.

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

Why is NASDAQ:URBN a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:URBN scores a 8 out of 10:

URBN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 34.07. Right above this resistance zone may be a good entry point.

How can NASDAQ:URBN 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.

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.

Disclaimer

This article should in no way be interpreted as advice in any way. 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.