GFL ENVIRONMENTAL INC-SUB VT (NYSE:GFL) - A Strong Technical Setup for Breakout Investors

GFL ENVIRONMENTAL INC-SUB VT (NYSE:GFL) has been identified as a standout candidate in our technical breakout screen. The stock combines a high technical rating with a strong setup pattern, suggesting potential for a breakout. Below, we examine why GFL stands out from a technical perspective.

Technical Strength

• Perfect Technical Rating (10/10): GFL scores the highest possible rating, indicating strong technical health. The stock has outperformed 94% of the market over the past year, with gains distributed consistently.
• Positive Long-Term Trend: The stock is in a long-term uptrend, trading near the upper end of its 52-week range.
• Strong Relative Strength: GFL ranks above 86% of its peers in the Commercial Services & Supplies industry.
• Bull Flag Pattern: The stock is currently forming a bull flag, a continuation pattern that often precedes further upside.

Setup Quality

• High Setup Rating (9/10): The stock is consolidating after recent gains, offering a potential entry point.
• Clear Support Zones: Multiple support levels exist below the current price, with the nearest at $47.85, providing a logical stop-loss area.
• Low Overhead Resistance: Minimal resistance above current levels increases the likelihood of a breakout.
• Institutional Interest: Large players have shown buying interest recently, reinforcing the bullish case.

Trade Considerations

• Entry Point: A breakout above $50.27 could serve as a potential entry.
• Stop-Loss: A stop below $47.51 limits downside risk to ~5.5%.
• Volume & Liquidity: Average daily volume of over 2 million shares ensures good liquidity.

For more details, review the full technical report for GFL.

Our Technical Breakout Setups screener updates daily with new breakout candidates.

Disclaimer

This is not investment advice. Always conduct your own analysis before making trading decisions.