CUBESMART (NYSE:CUBE) has been identified as a potential breakout candidate by our technical screening process. The stock currently presents a favorable combination of technical strength and setup quality, making it worth a closer look for traders focused on chart patterns.
Technical Strength
CUBE holds a Technical Rating of 7, indicating a solid uptrend with recent positive momentum. Key observations from the technical report include:
- The short-term trend is positive, while the long-term trend remains neutral, suggesting improving conditions.
- The stock is trading near the upper end of its recent range ($40.68 - $43.91), showing strength.
- Moving averages (20-day, 50-day, and 100-day) are all rising, reinforcing the bullish short-term outlook.
While CUBE’s performance is in line with the broader market, its recent price action suggests potential for further upside.
Setup Quality
With a Setup Rating of 9, CUBE is displaying a high-quality consolidation pattern. Key details:
- Prices have been consolidating in a tight range, reducing volatility and forming a clear support zone between $42.05 and $43.23.
- A recent Pocket Pivot signal (a bullish volume/price pattern) adds further confirmation.
- Resistance sits just above the current price at $43.69, providing a clear breakout level.
A potential trade setup suggests an entry above $43.70 (breakout level) with a stop-loss below $42.04, limiting downside risk to about 3.8%.
For more technical breakout opportunities, check our Technical Breakout Setups screener, updated daily.
Disclaimer
This is not investment advice. The analysis is based on technical observations at the time of writing. Always conduct your own research before making trading decisions.
