Will GAMING AND LEISURE PROPERTIE Break Out? A Technical Analysis Perspective.

GAMING AND LEISURE PROPERTIE (NASDAQ:GLPI) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:GLPI.

What is the technical picture of NASDAQ:GLPI telling us.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, GLPI scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, GLPI is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• GLPI 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 GLPI has a been trading in the 49.53 - 52.59 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 compared to the yearly performance of all other stocks, GLPI outperforms 62% of them, which is more or less in line with the market.

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

Why is NASDAQ:GLPI a 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, NASDAQ:GLPI has a 10 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, GLPI also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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 51.84. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 51.33, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GLPI in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NASDAQ:GLPI?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Of course, there are many ways to trade or not trade NASDAQ:GLPI 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.

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.