Indications Suggest NYSE:RSG Could Be on the Verge of a Breakout.

We've identified REPUBLIC SERVICES INC (NYSE:RSG) 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:RSG for further developments.

Analyzing the Technical Aspects

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, RSG scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, RSG has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that RSG is one of the better performing stocks in the market, outperforming 89% of all stocks. We also observe that the gains produced by RSG over the past year are nicely spread over this period.
• RSG is one of the better performing stocks in the Commercial Services & Supplies industry, it outperforms 76% of 83 stocks in the same industry.
• RSG is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so RSG is performing more or less in line with the market.
• In the last month RSG has a been trading in the 188.82 - 206.54 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Why is NYSE:RSG 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:RSG scores a 10 out of 10:

Besides having an excellent technical rating, RSG 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 203.47. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 198.74, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for RSG in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:RSG

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.

More breakout setups can be found in our Breakout screener.

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.