Waste Connections Inc Stock Forecast
Red day on Tuesday for Waste Connections Inc stock after losing 0.0842%
(Updated on Apr 23, 2024)
The Waste Connections Inc stock price fell by -0.0842% on the last day (Tuesday, 23rd Apr 2024) from $166.27 to $166.13. During the last trading day the stock fluctuated 0.88% from a day low at $165.90 to a day high of $167.35. The price has fallen in 6 of the last 10 days and is down by -1.32% for this period. 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 -485 thousand shares and in total, 874 thousand shares were bought and sold for approximately $145.20 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 $164.54 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 7.83% during the next 3 months and, with a 90% probability hold a price between $177.41 and $190.96 at the end of this 3-month period.
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WCN Signals & Forecast
There are mixed signals in the stock today. The Waste Connections Inc 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 $168.50. On a fall, the stock will find some support from the short-term average at $165.27. 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. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -3.49%. 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 $164.12 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 $1.45 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WCN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Waste Connections Inc to open at $166.46, and during the day (based on 14 day Average True Range), to move between $163.98 and $168.28, which gives a possible trading interval of +/-$2.15 (+/-1.30%) up or down from last closing price. If Waste Connections Inc takes out the full calculated possible swing range there will be an estimated 2.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $166.27 (0.08%) than the support at $164.12 (1.21%), 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.
Earnings coming up
Waste Connections Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.02. We will update the financials statements for Waste Connections Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.95% in the first trading day after earnings release.
Is Waste Connections Inc stock A Buy?
Waste Connections Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.563 Sell Candidate Unchanged
Predicted Opening Price for Waste Connections Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $166.46 ( 0.198%) | $166.13 |
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 | 167.91 | 1.07 % | |
| R2 | 167.36 | 0.739 % | ||
| R1 | 167.01 | 0.532 % | ||
| Current price: | 166.13 | |||
| Support | S1 | 165.90 | -0.137 % | |
| S2 | 165.56 | -0.344 % | ||
| S3 | 165.00 | -0.678 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 168.33 | 1.32 % | |
| R2 | 166.44 | 0.187 % | ||
| R1 | 166.27 | 0.0843 % | ||
| Current price | 166.13 | |||
| Support | S1 | 164.12 | -1.21% | |
| S2 | 156.55 | -5.77% | ||
| S3 | 154.38 | -7.07% |
WCN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Feb 27, 2024 | Mar 13, 2024 | $0.285 | 0.168% |
| 2 | Oct 25, 2023 | Nov 07, 2023 | Nov 28, 2023 | $0.290 | 0.218% |
| 3 | Aug 02, 2023 | Aug 15, 2023 | Aug 30, 2023 | $0.255 | 0.184% |
| 4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.255 | 0.186% |
| 5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.255 | 0.189% |
FAQ
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