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

Our stock screener has identified TOAST INC-CLASS A (NYSE:TOST) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:TOST.

Zooming in on the technicals.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall TOST gets a technical rating of 8 out of 10. 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.

• 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, TOST did better than 83% of all other stocks.
• TOST is part of the Financial Services industry. There are 102 other stocks in this industry. TOST outperforms 74% 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 21.53 - 24.73 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NYSE:TOST?

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:TOST has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, TOST also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 25.08. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.72, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:TOST

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

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.