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AMERICOLD REALTY TRUST INC (NYSE:COLD) showing some interesting technicals. Here's why.

By Mill Chart

Last update: Sep 20, 2023

A possible breakout setup was detected on AMERICOLD REALTY TRUST INC (NYSE:COLD) 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:COLD.

COLD Daily chart on 2023-09-20

What is the technical picture of NYSE:COLD telling us.

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, COLD scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, COLD is showing a nice and steady performance.

  • The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
  • Looking at the yearly performance, COLD did better than 79% of all other stocks. We also observe that the gains produced by COLD over the past year are nicely spread over this period.
  • COLD is part of the Diversified REITs industry. There are 134 other stocks in this industry. COLD outperforms 86% of them.
  • COLD 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 COLD is performing more or less in line with the market.
  • In the last month COLD has a been trading in the 31.98 - 33.90 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

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

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:COLD has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, COLD 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 a resistance zone just above the current price starting at 32.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.56, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:COLD

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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.


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.