VICI PROPERTIES INC (NYSE:VICI) Technical Analysis observations.

Our stockscreener has identified a possible breakout setup on VICI PROPERTIES INC (NYSE:VICI). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:VICI for potential opportunities.

Analyzing the Technical Aspects

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Overall VICI gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, VICI is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• VICI 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 VICI is performing more or less in line with the market.
• VICI is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• When compared to the yearly performance of all other stocks, VICI outperforms 54% of them, which is more or less in line with the market.

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

Looking at the Setup

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:VICI is 9:

Besides having an excellent technical rating, VICI 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 31.50. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 30.26, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for VICI in the last couple of days, which is a good sign.

Trading setups like NYSE:VICI

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

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 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.