TOAST INC-CLASS A is setting up nicely for a breakout.

We've identified TOAST INC-CLASS A (NYSE:TOST) 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:TOST for further developments.

Technical Analysis Observations

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 TOST gets a technical rating of 7 out of 10. TOST has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.

• When comparing the yearly performance of all stocks, we notice that TOST is one of the better performing stocks in the market, outperforming 79% of all stocks. On top of that, TOST also shows a nice and consistent pattern of rising prices.
• Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
• TOST is an average performer in the Financial Services industry, it outperforms 58% of 96 stocks in the same industry.
• TOST is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so TOST is lagging the market.
• In the last month TOST has a been trading in the 19.78 - 24.37 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:TOST currently has a 8 as setup rating:

TOST has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 21.90, a Stop Loss order could be placed below this zone.

How can NYSE:TOST be traded?

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

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

Keep in mind

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.