Waste Connections Inc. Stock Forecast
Red day on Friday for Waste Connections Inc.
(Updated on Apr 26, 2024)
The Waste Connections Inc. stock price fell by -0.93% on the last day (Friday, 26th Apr 2024) from $225.65 to $223.55. During the last trading day the stock fluctuated 1.41% from a day low at $222.68 to a day high of $225.83. The price has fallen in 7 of the last 10 days and is down by -2.93% 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 -101 thousand shares and in total, 206 thousand shares were bought and sold for approximately $46.07 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 $221.90 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 7.60% during the next 3 months and, with a 90% probability hold a price between $238.76 and $259.17 at the end of this 3-month period.
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WCN.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Waste Connections Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $226.42 and $229.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -4.24%. 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 $222.80 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 $3.15 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WCN.TO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Waste Connections Inc. to open at $224.02, and during the day (based on 14 day Average True Range), to move between $220.29 and $226.81, which gives a possible trading interval of +/-$3.26 (+/-1.46%) up or down from last closing price. If Waste Connections Inc. takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $222.80 (0.34%) than the resistance at $225.82 (1.02%), 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 Connections Inc. stock A Buy?
The Waste Connections Inc. stock holds several negative signals and despite the positive trend, we believe Waste Connections Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.261 Sell Candidate Unchanged
Predicted Opening Price for Waste Connections Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $224.02 ( 0.210%) | $223.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 227.17 | 1.62 % | |
| R2 | 225.97 | 1.08 % | ||
| R1 | 225.22 | 0.749 % | ||
| Current price: | 223.55 | |||
| Support | S1 | 222.82 | -0.328 % | |
| S2 | 222.07 | -0.661 % | ||
| S3 | 220.87 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 231.53 | 3.57 % | |
| R2 | 226.22 | 1.19 % | ||
| R1 | 225.82 | 1.02 % | ||
| Current price | 223.55 | |||
| Support | S1 | 222.80 | -0.335% | |
| S2 | 222.18 | -0.613% | ||
| S3 | 212.36 | -5.01% |
WCN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 23, 2024 | $0.391 | 0.175% |
| 2 | Feb 13, 2024 | Feb 27, 2024 | Mar 13, 2024 | $0.383 | 0.167% |
| 3 | Oct 25, 2023 | Nov 07, 2023 | Nov 28, 2023 | $0.387 | 0.214% |
| 4 | Aug 02, 2023 | Aug 15, 2023 | Aug 30, 2023 | $0.338 | 0.180% |
| 5 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.341 | 0.183% |
FAQ
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