Strong Growth Stock Technical Setups. Analyze technical breakout patterns in stocks which are growing strongly while having decent profitability and health.
New York Stock Exchange, Inc. / Consumer Discretionary / Hotels, Restaurants & Leisure
Taking everything into account, CMG scores 8 out of 10 in our technical rating. CMG has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
Besides having an excellent technical rating, CMG also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 59.94, a Stop Loss order could be placed below this zone.
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52.57
When analyzing the support we can see 4 important areas.
- A support zone ranging from 58.20 to 59.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 56.70 to 57.14. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 55.72 to 55.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @53.10 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @60.60 from a horizontal line in the daily time frame.
- Resistance @65.44 from a horizontal line in the weekly time frame.
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 60.61 | 58.19 | 2.42 (3.99%) | 25.00% |
| An entry @60.61. This is a Buy Stop order right above the resistance zone. | An exit @58.19. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.42 points, which is 3.99%. | For a 1.00% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.