Bullish on CCL Industries Inc.
A technical look at the stock
stock
CCL Industries (CCL-B-T, Monday’s close $99.30) traded within a broad horizontal range, mostly between $48 and $72, for approximately seven years (dotted lines), with only a brief exception in early 2020 during the COVID-19 pandemic (A).
The stock was trading near the bottom of this range in late 2023 when it began a sustained advance. It eventually broke decisively above the $72 upper boundary, confirming a clear breakout (B) and marking the beginning of a new long-term uptrend (dashed line). We recommended CCL Industries on Aug. 15, 2024, ($74.69) and suggested that a rise above $75-76 would signal initial targets of $89 and $99.
CCL Industries broke out shortly after (B), pulled back briefly in early 2025 (C), and then resumed the uptrend, reaching a recent high of $98.59, and essentially fulfilling both targets (D).
There is solid support near $94–95, while the 40wMA offers secondary support around $90. A decisive break below this level would be needed to materially weaken the stock’s longer-term bullish outlook.
Point & Figure measurements provide targets of $108 and $117. The magnitude of the previous trading range also supports the potential for higher targets.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com