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

Our stock screener has spotted TOAST INC-CLASS A (NYSE:TOST) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:TOST.

In-Depth Technical Analysis of NYSE:TOST

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 8 out of 10 to TOST. Although TOST is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• TOST 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 TOST is lagging the market slightly.
• When comparing the yearly performance of all stocks, we notice that TOST is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• TOST is part of the Financial Services industry. There are 101 other stocks in this industry, TOST did better than 70% of them.
• In the last month TOST has a been trading in the 22.47 - 27.90 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 TOST contains the most current technical analsysis.

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:TOST is 8:

TOST 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 24.32, a Stop Loss order could be placed below this zone.

How can NYSE:TOST be traded?

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.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

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

Disclaimer

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.