Waste Connections Inc Stock Forecast
Waste Connections Inc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Waste Connections Inc stock price fell by -1.55% on the last day (Tuesday, 30th Apr 2024) from $164.65 to $162.09. During the last trading day the stock fluctuated 1.82% from a day low at $162.05 to a day high of $165.00. The price has been going up and down for this period, and there has been a -1.57% 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 -73 thousand shares and in total, 775 thousand shares were bought and sold for approximately $125.66 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $160.39 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.10% during the next 3 months and, with a 90% probability hold a price between $166.96 and $182.54 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 $164.86 and $168.03. 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 -5.83%. 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 $157.17 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 $2.95 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: $153.09 (-5.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (WCN) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Waste Connections Inc to open at $163.05, and during the day (based on 14 day Average True Range), to move between $159.67 and $164.51, which gives a possible trading interval of +/-$2.42 (+/-1.49%) up or down from last closing price. If Waste Connections Inc takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $164.12 (1.25%) than the support at $157.17 (3.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Waste Connections Inc stock A Buy?
Waste Connections Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.812 Hold/Accumulate Upgraded
Predicted Opening Price for Waste Connections Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $163.05 ( 0.590%) | $162.09 |
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 | 166.00 | 2.41 % | |
| R2 | 164.87 | 1.71 % | ||
| R1 | 164.17 | 1.29 % | ||
| Current price: | 162.09 | |||
| Support | S1 | 161.92 | -0.105 % | |
| S2 | 161.22 | -0.535 % | ||
| S3 | 160.10 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 168.33 | 3.85 % | |
| R2 | 165.18 | 1.91 % | ||
| R1 | 164.12 | 1.25 % | ||
| Current price | 162.09 | |||
| Support | S1 | 157.17 | -3.04% | |
| S2 | 156.55 | -3.42% | ||
| S3 | 154.38 | -4.76% |
WCN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 23, 2024 | $0.285 | 0.176% |
| 2 | Feb 27, 2024 | Feb 27, 2024 | Mar 13, 2024 | $0.285 | 0.168% |
| 3 | Oct 25, 2023 | Nov 07, 2023 | Nov 28, 2023 | $0.290 | 0.218% |
| 4 | Aug 02, 2023 | Aug 15, 2023 | Aug 30, 2023 | $0.255 | 0.184% |
| 5 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.255 | 0.186% |
FAQ
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