Will TOAST INC-CLASS A Break Out? A Technical Analysis Perspective.

Our stock screener has flagged TOAST INC-CLASS A (NYSE:TOST) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:TOST for potential movement.

Analyzing the Technical Aspects

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

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

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that TOST is one of the better performing stocks in the market, outperforming 90% of all stocks.
• TOST is part of the Financial Services industry. There are 102 other stocks in this industry. TOST outperforms 89% of them.
• TOST is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TOST is lagging the market slightly.
• In the last month TOST has a been trading in the 22.59 - 25.63 range, which is quite wide. It is currently trading near the high of this range.

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

Why is NYSE:TOST a 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:TOST this score is currently 9:

TOST 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 24.98. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.53, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TOST in the last couple of days, which is a good sign.

How can NYSE:TOST be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.

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

Keep in mind

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.