CUBESMART is setting up nicely for a breakout.

CUBESMART (NYSE:CUBE) 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:CUBE.

Zooming in on the technicals.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, CUBE scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, CUBE 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.
• CUBE is one of the better performing stocks in the Specialized REITs industry, it outperforms 70% of 28 stocks in the same industry.
• CUBE is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so CUBE is performing more or less in line with the market.
• In the last month CUBE has a been trading in the 44.72 - 49.58 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.
• When comparing the yearly performance of all stocks, we notice that CUBE is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
• Volume is considerably higher in the last couple of days.

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

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:CUBE scores a 9 out of 10:

CUBE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. 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 48.73. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 45.95, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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.

Every day, new breakout setups can be found on ChartMill 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.