Casella Waste Systems Stock Forecast
Casella Waste Systems stock upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The Casella Waste Systems stock price gained 1.42% on the last trading day (Tuesday, 23rd Apr 2024), rising from $94.09 to $95.43. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.99% from a day low at $93.23 to a day high of $96.02. The price has been going up and down for this period, and there has been a -1.33% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 159 thousand shares were bought and sold for approximately $15.13 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.96% during the next 3 months and, with a 90% probability hold a price between $104.01 and $114.04 at the end of this 3-month period.
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CWST Signals & Forecast
The Casella Waste Systems stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $93.96 and $95.35. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, March 28, 2024, and so far it has fallen -3.48%. 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).
Support, Risk & Stop-loss for Casella Waste Systems stock
Casella Waste Systems finds support from accumulated volume at $94.49 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 $2.79 (2.99%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $91.51 (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CWST) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Casella Waste Systems to open at $94.89, and during the day (based on 14 day Average True Range), to move between $93.59 and $97.27, which gives a possible trading interval of +/-$1.84 (+/-1.93%) up or down from last closing price. If Casella Waste Systems takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $96.07 (0.67%) than the support at $94.49 (0.99%), 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
Casella Waste Systems will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Casella Waste Systems, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.82% in the first trading day after earnings release.
Is Casella Waste Systems stock A Buy?
Casella Waste Systems holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.015 Hold/Accumulate Upgraded
Predicted Opening Price for Casella Waste Systems of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $94.89 ( 0.562%) | $95.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.68 | 2.36 % | |
| R2 | 96.62 | 1.24 % | ||
| R1 | 95.96 | 0.554 % | ||
| Current price: | 95.43 | |||
| Support | S1 | 93.83 | -1.68 % | |
| S2 | 93.17 | -2.37 % | ||
| S3 | 92.10 | -3.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.87 | 3.60 % | |
| R2 | 98.78 | 3.51 % | ||
| R1 | 96.07 | 0.671 % | ||
| Current price | 95.43 | |||
| Support | S1 | 94.49 | -0.99% | |
| S2 | 91.83 | -3.77% | ||
| S3 | 85.34 | -10.57% |
FAQ
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