Based on good technical signals, VISTRA CORP is potentially setting up for a breakout.

Our stock screener has detected a potential breakout setup on VISTRA CORP (NYSE:VST). 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:VST.

Technical Analysis Observations

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 VST 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, VST is only an average performer.

• The long and short term trends are both positive. This is looking good!
• VST is part of the Independent Power and Renewable Electricity Producers industry. There are 37 other stocks in this industry. VST outperforms 70% of them.
• In the last month VST has a been trading in the 23.54 - 25.23 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 compared to the yearly performance of all other stocks, VST outperforms 58% of them, which is more or less in line with the market.
• VST is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so VST is lagging the market.

How do we evaluate the setup for NYSE:VST?

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:VST has a 9 as its setup rating:

VST 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. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 24.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.76, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:VST be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation 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.

Our Breakout screener lists more breakout setups and is updated daily.