Will WR BERKLEY CORP breakout?

WR BERKLEY CORP (NYSE:WRB) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:WRB.

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.

We assign a technical rating of 9 out of 10 to WRB. In the last year, WRB was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, WRB did better than 88% of all other stocks. We also observe that the gains produced by WRB over the past year are nicely spread over this period.
• WRB is one of the better performing stocks in the Insurance industry, it outperforms 77% of 140 stocks in the same industry.
• WRB 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 WRB slightly outperforms the market at the moment.
• In the last month WRB has a been trading in the 51.41 - 56.66 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

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

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:WRB this score is currently 8:

WRB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 55.51. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 54.03, a Stop Loss order could be placed below this zone.

Trading breakout setups.

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.

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.

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

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.