The question on everyone's mind: Will GLOBAL PAYMENTS INC breakout?

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

Deciphering the Technical Picture of NYSE:GPN

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 9 out of 10 to GPN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GPN is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• GPN 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 GPN is lagging the market slightly.
• In the last month GPN has a been trading in the 124.93 - 134.72 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, GPN did better than 83% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
• GPN is part of the Financial Services industry. There are 103 other stocks in this industry, GPN did better than 69% of them.

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

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:GPN is 9:

Besides having an excellent technical rating, GPN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 133.91. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 130.39, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GPN 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:GPN?

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.

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.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. 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.