Red day on Wednesday for Waste Management Inc
(Updated on Jan 19, 2022)
Sell candidate since 2022-01-18 Loss -0.17% PDF
The Waste Management Inc stock price fell by -0.17% on the last day (Wednesday, 19th Jan 2022) from $155.35 to $155.08. and has now fallen 6 days in a row. During the day the stock fluctuated 1.53% from a day low at $154.92 to a day high of $157.29. The price has fallen in 8 of the last 10 days and is down by -5.61% 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 -445 thousand shares and in total, 1 million shares were bought and sold for approximately $230.93 million.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $160.02 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Signals & Forecast
There are few to no technical positive signals at the moment. The Waste Management 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 $157.55 and $162.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, December 31, 2021, and so far it has fallen -7.08%. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.37 (1.53%) between high and low. For the last week, the stock has had a daily average volatility of 1.57%.
Waste Management Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Waste Management Inc stock A Buy?
Waste Management Inc holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.137Sell Candidate Unchanged
Insiders are negative selling more shares than they are buying in Waste Management Inc
In the last 100 trades there were 570.1 thousand shares bought and 704.77 thousand shares sold. The last trade was done 3 days ago by Pope John C who sold 195 shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
Predicted Opening Price for Waste Management Inc of Thursday, January 20, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price January 20, 2022||Current price|
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On Oct 27, 2021 "Raymond James" gave "$157.00 - $167.00" rating for WM. The price target was changed from $159.28 to 1.2%.
WM Insider Trading
|Jan 18, 2022||Sell||195||Pope John C||Common Stock|
|Jan 15, 2022||Buy||528||Gluski Andres||Common Stock|
|Jan 15, 2022||Buy||528||Holt Victoria M||Common Stock|
|Jan 15, 2022||Buy||528||Mazzarella Kathleen M||Common Stock|
|Jan 15, 2022||Buy||528||Menke Sean E||Common Stock|
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