Waste Management, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Monday for Waste Management, Inc. stock after gaining 1.05%
(Updated on Jun 24, 2024)
The Waste Management, Inc. stock price gained 1.05% on the last trading day (Monday, 24th Jun 2024), rising from 195.06€ to 197.10€. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.30% from a day low at 194.72€ to a day high of 197.26€. The price has risen in 9 of the last 10 days and is up by 4.94% over the past 2 weeks. Volume fell on the last day by -150 shares and in total, 106 shares were bought and sold for approximately 20.89€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -2.87% during the next 3 months and, with a 90% probability hold a price between 178.94€ and 191.44€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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UWS.F Signals & Forecast
The Waste Management, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 193.04€ and 191.44€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 6.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Waste Management, Inc. stock
Waste Management, Inc. finds support from accumulated volume at 194.36€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 2.54€ between high and low, or 1.30%. For the last week the stock has had daily average volatility of 0.709%
The Waste Management, 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 and the RSI is still moving upwards. 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. Since the Waste Management, Inc. has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: 190.28€ (-3.46%) (This stock has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (UWS.F) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Waste Management, Inc. to open at 196.36€, and during the day (based on 14 day Average True Range), to move between 194.62€ and 199.58€, which gives a possible trading interval of +/-2.48€ (+/-1.26%) up or down from last closing price. If Waste Management, Inc. takes out the full calculated possible swing range there will be an estimated 2.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 197.62€ (0.26%) than the support at 194.36€ (1.39%), 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 Management, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.507 Buy Candidate Unchanged
Predicted Opening Price for Waste Management, Inc. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| 196.36€ ( 0.375%) | 197.10€ |
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 | |
|---|---|---|
| R3 | 198.90 | 0.91% |
| R2 | 197.93 | 0.421% |
| R1 | 197.33 | 0.117% |
| Price | 197.10 | |
| S1 | 195.39 | -0.87% |
| S2 | 194.79 | -1.17% |
| S3 | 193.82 | -1.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 197.78 | 0.345% |
| R2 | 197.68 | 0.294% |
| R1 | 197.62 | 0.264% |
| Price | 197.10 | |
| S1 | 194.36 | -1.39% |
| S2 | 193.08 | -2.04% |
| S3 | 186.22 | -5.52% |
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 | Dec 15, 2023 | 0.700€ | 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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