There are signs that NYSE:GPK may be ready to breakout.

We've identified GRAPHIC PACKAGING HOLDING CO (NYSE:GPK) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:GPK for further developments.

Technical analysis of NYSE:GPK

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.

Overall GPK gets a technical rating of 8 out of 10. 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 95% 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 77% of all stocks. However, this relatively good performance is mostly due to a recent big move.

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

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:GPK exhibits a 10 setup rating, indicating its consolidation status in recent days and weeks.

GPK has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 26.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 25.43, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GPK 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 NYSE:GPK?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

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.