Uncovering Noteworthy Technical Analysis Findings for ARAMARK (NYSE:ARMK).

ARAMARK (NYSE:ARMK) 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:ARMK.

Technical analysis of NYSE:ARMK

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, ARMK scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, ARMK has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, ARMK did better than 86% of all other stocks. We also observe that the gains produced by ARMK over the past year are nicely spread over this period.
• ARMK is one of the better performing stocks in the Hotels, Restaurants & Leisure industry, it outperforms 76% of 135 stocks in the same industry.
• ARMK 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 ARMK has a been trading in a tight range between 36.79 and 38.99.

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

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ARMK has a 9 as its setup rating, indicating its current consolidation status.

ARMK has an excellent technical rating and 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 38.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.96, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ARMK in the last couple of days, which is a good sign.

How can NYSE:ARMK be traded?

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.

Of course, there are many ways to trade or not trade NYSE:ARMK and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

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.