Promising Signs: VICI PROPERTIES INC Setting the Stage for a Breakout.

Our stock screener has detected a potential breakout setup on VICI PROPERTIES INC (NYSE:VICI). 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 NYSE:VICI.

Deciphering the Technical Picture of NYSE:VICI

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 8 out of 10 to VICI. 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 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.
• In the last month VICI has a been trading in the 30.20 - 32.27 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.
• When comparing the performance of all stocks over the past year, VICI turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
• VICI is part of the Specialized REITs industry. There are 28 other stocks in this industry, VICI did better than 40% of them.

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

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:VICI exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

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 32.00. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 31.93, 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

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.

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.