Waste Connections Inc Stock Forecast
Red day on Thursday for Waste Connections Inc
(Updated on Apr 18, 2024)
The Waste Connections Inc stock price fell by -0.194% on the last day (Thursday, 18th Apr 2024) from $164.68 to $164.36. During the last trading day the stock fluctuated 1.22% from a day low at $163.71 to a day high of $165.71. The price has been going up and down for this period, and there has been a -1.76% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -82 thousand shares and in total, 570 thousand shares were bought and sold for approximately $93.61 million.
Given the current short-term trend, the stock is expected to rise 9.94% during the next 3 months and, with a 90% probability hold a price between $180.70 and $195.22 at the end of this 3-month period.
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WCN Signals & Forecast
There are few to no technical positive signals at the moment. The Waste Connections Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $166.08 and $168.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -4.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Waste Connections Inc stock
Waste Connections Inc finds support from accumulated volume at $164.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.00 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 1.52%.
Waste Connections Inc is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WCN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Waste Connections Inc to open at $164.59, and during the day (based on 14 day Average True Range), to move between $162.10 and $166.62, which gives a possible trading interval of +/-$2.26 (+/-1.37%) up or down from last closing price. If Waste Connections Inc takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $164.12 (0.15%) than the resistance at $165.45 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Waste Connections Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.02. We will update the financials statements for Waste Connections Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.95% in the first trading day after earnings release.
Is Waste Connections Inc stock A Buy?
The Waste Connections Inc stock holds several negative signals and despite the positive trend, we believe Waste Connections Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.003 Sell Candidate Unchanged
Predicted Opening Price for Waste Connections Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $164.59 ( 0.142%) | $164.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.59 | 1.36 % | |
| R2 | 165.83 | 0.89 % | ||
| R1 | 165.36 | 0.607 % | ||
| Current price: | 164.36 | |||
| Support | S1 | 163.83 | -0.323 % | |
| S2 | 163.36 | -0.610 % | ||
| S3 | 162.59 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 168.33 | 2.42 % | |
| R2 | 166.44 | 1.27 % | ||
| R1 | 165.45 | 0.663 % | ||
| Current price | 164.36 | |||
| Support | S1 | 164.12 | -0.146% | |
| S2 | 156.55 | -4.75% | ||
| S3 | 153.35 | -6.70% |
WCN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Feb 27, 2024 | Mar 13, 2024 | $0.285 | 0.168% |
| 2 | Oct 25, 2023 | Nov 07, 2023 | Nov 28, 2023 | $0.290 | 0.218% |
| 3 | Aug 02, 2023 | Aug 15, 2023 | Aug 30, 2023 | $0.255 | 0.184% |
| 4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.255 | 0.186% |
| 5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.255 | 0.189% |
FAQ
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