Interesting Technical Analysis finding for GRAPHIC PACKAGING HOLDING CO (NYSE:GPK)

A possible breakout setup was detected on GRAPHIC PACKAGING HOLDING CO (NYSE:GPK) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:GPK.

What is the technical picture of NYSE:GPK telling us.

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

Taking everything into account, GPK 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, GPK is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• GPK is part of the Containers & Packaging industry. There are 23 other stocks in this industry. GPK outperforms 86% of them.
• GPK is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GPK is lagging the market slightly.
• GPK is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• When comparing the yearly performance of all stocks, we notice that GPK is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this overall good ranking is mostly due to the recent strong move.

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

Why is NYSE:GPK a 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:GPK scores a 9 out of 10:

GPK has an excellent technical rating and 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 very little resistance above the current price. There is a support zone below the current price at 25.30, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:GPK be traded?

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 NYSE:GPK 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.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.