TEMPUR SEALY INTERNATIONAL I (NYSE:TPX) Technical Analysis observations.

Our stock screener has identified TEMPUR SEALY INTERNATIONAL I (NYSE:TPX) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:TPX.

Deciphering the Technical Picture of NYSE:TPX

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.

We assign a technical rating of 7 out of 10 to TPX. In the last year, TPX was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.

• Both the short term and long term trends are positive. This is a very positive sign.
• TPX 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 TPX is lagging the market slightly.
• In the last month TPX has a been trading in the 45.58 - 53.54 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, TPX did better than 71% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
• TPX is part of the Household Durables industry. There are 67 other stocks in this industry, TPX did better than 50% of them.

For an up to date full technical analysis you can check the technical report of TPX

How do we evaluate the setup for NYSE:TPX?

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:TPX exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, TPX 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 52.37, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TPX in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

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.

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

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.