Republic Services Inc Stock Forecast

Republic Services Inc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)

RSG Signals & Forecast

The Republic Services Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $194.06. On a fall, the stock will find some support from the long-term average at approximately $188.61. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.85%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, June 13, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, September 08, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Republic Services Inc stock

Republic Services Inc finds support from accumulated volume at $191.70 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 $2.03 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.01%.

The Republic Services Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $186.42 (-3.49%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (RSG) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Republic Services Inc to open at $192.76, and during the day (based on 14 day Average True Range), to move between $190.97 and $195.35, which gives a possible trading interval of +/-$2.19 (+/-1.14%) up or down from last closing price. If Republic Services Inc takes out the full calculated possible swing range there will be an estimated 2.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $193.41 (0.13%) than the support at $191.70 (0.76%), 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 Republic Services Inc stock A Buy?

Republic Services Inc 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: 0.932 Hold/Accumulate Upgraded

Predicted Opening Price for Republic Services Inc of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.