Casella Waste Systems Stock Forecast
Casella Waste Systems stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Casella Waste Systems stock price gained 0.0765% on the last trading day (Friday, 3rd May 2024), rising from $91.55 to $91.62. During the last trading day the stock fluctuated 1.87% from a day low at $91.29 to a day high of $93.00. The price has been going up and down for this period, and there has been a -1.94% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 202 thousand shares were bought and sold for approximately $18.53 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $90.44 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 4.97% during the next 3 months and, with a 90% probability hold a price between $94.94 and $105.81 at the end of this 3-month period.
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CWST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.73%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Casella Waste Systems stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $94.89. On a fall, the stock will find some support from the short-term average at $91.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Casella Waste Systems stock
Casella Waste Systems finds support from accumulated volume at $90.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.71 (1.87%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $86.34 (-5.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CWST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Casella Waste Systems to open at $91.97, and during the day (based on 14 day Average True Range), to move between $89.48 and $93.76, which gives a possible trading interval of +/-$2.14 (+/-2.34%) up or down from last closing price. If Casella Waste Systems takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $91.83 (0.23%) than the support at $90.71 (0.99%), 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 Casella Waste Systems stock A Buy?
Casella Waste Systems holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.188 Hold/Accumulate Upgraded
Predicted Opening Price for Casella Waste Systems of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $91.97 ( 0.382%) | $91.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.68 | 2.25 % | |
| R2 | 93.03 | 1.54 % | ||
| R1 | 92.62 | 1.09 % | ||
| Current price: | 91.62 | |||
| Support | S1 | 91.32 | -0.331 % | |
| S2 | 90.91 | -0.771 % | ||
| S3 | 90.26 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.49 | 3.13 % | |
| R2 | 91.96 | 0.371 % | ||
| R1 | 91.83 | 0.229 % | ||
| Current price | 91.62 | |||
| Support | S1 | 90.71 | -0.99% | |
| S2 | 90.06 | -1.70% | ||
| S3 | 89.19 | -2.65% |
FAQ
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