Waste Management Inc Forecast and Stock Analysis
Technical WM stock analysis for Wednesday May 22, 2019.
|Shorts||1.84% ( 2019-04-15 )|
|Price to book||USD 7.24|
|Next Earnings Date||2019-07-24|
Waste Management Inc gained 0.13% in the last trading day ( Wednesday, 22nd May 2019 ), rising from $109.29 to $109.43 , and has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During day the stock fluctuated 0.75% from a day low at $108.84 to a day high of $109.66. The price has risen in 8 of the last 10 days and is up by 4.4% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.11 million more shares were traded than the day before. In total, 1.45 million shares bought and sold for approximately $158.28 million.
- 30 day high of the WM stock price was $109.66 and low was $103.84.
- 90 day high was $109.66 and low was $97.55.
- 52 week high for the Waste Management Inc - $109.66 and low - $79.96.
Waste Management Inc lies in the upper part of a narrow and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $109.69 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 8.81% during the next 3 months and, with 90% probability hold a price between $113.86 and $119.36 at the end of this period.
Only positive signals in the chart today. Waste Management Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $108.11 and $105.42. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday May 07, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
Waste Management Inc finds support from accumulated volume at $104.02.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.82 (0.75%) between high and low. For the last week, the stock has had a daily average volatility of 1.06%.
Since the Waste Management Inc has been rising for 7 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $104.06 (-4.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 11 days ago.)
1.06 %Average volatility
Very Low Low Medium High Very High
Waste Management Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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|WM $109.43 ($0.14 0.13%)|
WM is up $0.14 today, but where's it headed in 2019?
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