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Technical Signals Point to a Possible Breakout for REPUBLIC SERVICES INC.

By Mill Chart

Last update: Apr 19, 2024

We've identified REPUBLIC SERVICES INC (NYSE:RSG) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:RSG for further developments.

RSG Daily chart on 2024-04-19

Technical analysis of NYSE:RSG

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 10 out of 10 to RSG. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RSG is showing a nice and steady performance.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that RSG is one of the better performing stocks in the market, outperforming 87% of all stocks. We also observe that the gains produced by RSG over the past year are nicely spread over this period.
  • RSG is part of the Commercial Services & Supplies industry. There are 84 other stocks in this industry. RSG outperforms 75% of them.
  • RSG is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so RSG is leading the market.
  • In the last month RSG has a been trading in a tight range between 186.38 and 192.06.

Check the latest full technical report of RSG for a complete technical analysis.

Why is NYSE:RSG a setup?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:RSG is 9:

Besides having an excellent technical rating, RSG also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. 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 189.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 188.50, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:RSG?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.


This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.