Uncovering Noteworthy Technical Analysis Findings for GFL ENVIRONMENTAL INC-SUB VT (NYSE:GFL).

Our stockscreener has identified a possible breakout setup on GFL ENVIRONMENTAL INC-SUB VT (NYSE:GFL). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:GFL for potential opportunities.

Analyzing the Technical Aspects

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, GFL scores 8 out of 10 in our technical rating. Although GFL is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• GFL 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 GFL has a been trading in the 35.91 - 40.27 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, GFL outperforms 69% of them, which is more or less in line with the market.
• GFL is part of the Commercial Services & Supplies industry. There are 84 other stocks in this industry, GFL did better than 56% of them.

Check the latest full technical report of GFL for a complete technical analysis.

Looking at the Setup

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:GFL is 9:

GFL 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 39.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 38.52, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GFL in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.