Waste Management, Inc. Stock Forecast
Waste Management, Inc. stock upgraded to Buy Candidate.
(Updated on May 16, 2024)
The Waste Management, Inc. stock price gained 0.394% on the last trading day (Thursday, 16th May 2024), rising from 192.70€ to 193.46€. During the last trading day the stock fluctuated 0.92% from a day low at 191.70€ to a day high of 193.46€. The price has been going up and down for this period, and there has been a 0.23% gain 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, 917 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately 222.09€ thousand.
The stock lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 192.63€ 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 2.77% during the next 3 months and, with a 90% probability hold a price between 197.96€ and 205.96€ at the end of this 3-month period.
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UWS.F Signals & Forecast
The Waste Management, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 194.90€ and 194.49€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 0.792%. Further rise is indicated until a new top pivot has been found. Waste Management, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -1.15% to 191.24€ within 19 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for Waste Management, Inc. stock
Waste Management, Inc. finds support from accumulated volume at 193.08€ 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 1.76€ between high and low, or 0.92%. For the last week the stock has had daily average volatility of 1.33%.
Our recommended stop-loss: 182.00€ (-5.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (UWS.F) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Waste Management, Inc. to open at 192.87€, and during the day (based on 14 day Average True Range), to move between 190.96€ and 195.96€, which gives a possible trading interval of +/-2.50€ (+/-1.29%) up or down from last closing price. If Waste Management, Inc. takes out the full calculated possible swing range there will be an estimated 2.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 193.08€ (0.20%) than the resistance at 194.02€ (0.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Waste Management, Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.442 Buy Candidate Upgraded
Predicted Opening Price for Waste Management, Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 192.87€ ( 0.303%) | 193.46€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UWS.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.63 | 0.606 % | |
| R2 | 193.96 | 0.259 % | ||
| R1 | 193.55 | 0.0443 % | ||
| Current price: | 193.46 | |||
| Support | S1 | 192.20 | -0.651 % | |
| S2 | 191.79 | -0.87 % | ||
| S3 | 191.11 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 195.26 | 0.93 % | |
| R2 | 194.36 | 0.465 % | ||
| R1 | 194.02 | 0.289 % | ||
| Current price | 193.46 | |||
| Support | S1 | 193.08 | -0.196% | |
| S2 | 191.30 | -1.12% | ||
| S3 | 190.20 | -1.69% |
UWS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 21, 2024 | 0.693€ | 0% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | 0.692€ | 0% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | 0€ | 0% |
| 4 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | 0.700€ | 0% |
| 5 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | 0.700€ | 0% |
FAQ
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