Waste Management Inc Stock Forecast
Green day on Tuesday for Waste Management Inc
(Updated on Jul 02, 2024)
The Waste Management Inc stock price gained 0.0525% on the last trading day (Tuesday, 2nd Jul 2024), rising from $209.36 to $209.47. During the last trading day the stock fluctuated 1.25% from a day low at $207.70 to a day high of $210.30. The price has risen in 7 of the last 10 days and is up by 1.5% over the past 2 weeks. Volume fell on the last day by -486 thousand shares and in total, 1 million shares were bought and sold for approximately $302.79 million. 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.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Waste Management Inc stock with a 90% probability to be traded between $200.37 and $213.18 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WM Signals & Forecast
The Waste Management Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $211.72. On a fall, the stock will find some support from the long-term average at approximately $207.44. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen -1.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Waste Management Inc stock
Waste Management Inc finds support from accumulated volume at $208.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.60 (1.25%) between high and low. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Waste Management Inc to open at $209.16, and during the day (based on 14 day Average True Range), to move between $206.48 and $212.46, which gives a possible trading interval of +/-$2.99 (+/-1.43%) up or down from last closing price. If Waste Management Inc takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $209.86 (0.19%) than the support at $208.99 (0.23%), 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?
Waste Management 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: -1.400 Sell Candidate Unchanged
Predicted Opening Price for Waste Management Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $209.16 ( 0.150%) | $209.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 211.76 | 1.09% |
| R2 | 210.76 | 0.617% |
| R1 | 210.15 | 0.325% |
| Price | 209.47 | |
| S1 | 208.16 | -0.624% |
| S2 | 207.55 | -0.92% |
| S3 | 206.56 | -1.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 212.67 | 1.53% |
| R2 | 210.73 | 0.602% |
| R1 | 209.86 | 0.186% |
| Price | 209.47 | |
| S1 | 208.99 | -0.229% |
| S2 | 206.93 | -1.21% |
| S3 | 201.30 | -3.90% |
WM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 21, 2024 | $0.750 | 0.359% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.750 | 0.352% |
| 3 | Nov 06, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.700 | 0.401% |
| 4 | Aug 21, 2023 | Sep 07, 2023 | Sep 22, 2023 | $0.700 | 0.447% |
| 5 | May 08, 2023 | Jun 01, 2023 | Jun 16, 2023 | $0.700 | 0.424% |
FAQ
Click here for our free guide on how to buy Waste Management Inc Stock.
