Uncovering Noteworthy Technical Analysis Findings for VERALTO CORP (NYSE:VLTO).

A possible breakout setup was detected on VERALTO CORP (NYSE:VLTO) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:VLTO.

In-Depth Technical Analysis of NYSE:VLTO

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to VLTO. Both in the recent history as in the last year, VLTO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, VLTO did better than 87% of all other stocks. We also observe that the gains produced by VLTO over the past year are nicely spread over this period.
• VLTO is part of the Commercial Services & Supplies industry. There are 84 other stocks in this industry. VLTO outperforms 81% of them.
• VLTO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month VLTO has a been trading in a tight range between 109.22 and 114.61.

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

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:VLTO this score is currently 9:

VLTO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 113.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 112.65, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:VLTO 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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

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.