WASTE MANAGEMENT INC. - 1H - Technical analysis published on 02/26/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
22%
28%
My opinion
Bullish above 206.89 USD
My targets
210.61 USD (+1.26%)
213.18 USD (+2.49%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WASTE MANAGEMENT INC. as long as the price remains well above 206.89 USD. The buyers' bullish objective is set at 210.61 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 213.18 USD. If there is any crossing, the next objective would be the resistance located at 217.72 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WASTE MANAGEMENT INC. price is 207.99 USD. On the day, this instrument lost -0.03% with the lowest point at 207.72 USD and the highest point at 209.22 USD. The deviation from the price is +0.13% for the low point and -0.59% for the high point.207.72
209.22
207.99
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WASTE MANAGEMENT INC.:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WASTE MANAGEMENT INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 9 are bullish, 5 are neutral and 4 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near horizontal support
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 189.98 | 199.92 | 206.89 | 207.99 |
| Change (%) | -8.66% | -3.88% | -0.53% | - |
| Change | -18.01 | -8.07 | -1.10 | - |
| Level | Minor | Minor | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 205.34 | 206.12 | 207.08 | 207.86 | 208.82 | 209.60 | 210.56 |
| Camarilla | 207.57 | 207.73 | 207.89 | 208.05 | 208.21 | 208.37 | 208.53 |
| Woodie | 205.44 | 206.17 | 207.18 | 207.91 | 208.92 | 209.65 | 210.66 |
| Fibonacci | 206.12 | 206.78 | 207.19 | 207.86 | 208.52 | 208.93 | 209.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 196.39 | 198.96 | 203.50 | 206.07 | 210.61 | 213.18 | 217.72 |
| Camarilla | 206.10 | 206.75 | 207.40 | 208.05 | 208.70 | 209.35 | 210.01 |
| Woodie | 197.39 | 199.45 | 204.50 | 206.56 | 211.61 | 213.67 | 218.72 |
| Fibonacci | 198.96 | 201.67 | 203.35 | 206.07 | 208.78 | 210.46 | 213.18 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 167.55 | 172.12 | 178.87 | 183.44 | 190.19 | 194.76 | 201.51 |
| Camarilla | 182.52 | 183.56 | 184.59 | 185.63 | 186.67 | 187.71 | 188.74 |
| Woodie | 168.65 | 172.67 | 179.97 | 183.99 | 191.29 | 195.31 | 202.61 |
| Fibonacci | 172.12 | 176.44 | 179.11 | 183.44 | 187.76 | 190.43 | 194.76 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 67.09 | |
| MACD (12,26,9): | 1.3200 | |
| Directional Movement: | 17.88 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 209.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 209.10 | |
| Elder Ray (13): | 0.27 | |
| Super Trend (3,10): | 206.19 | |
| Zig ZAG (10): | 208.20 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 61.44 | |
| TEMA (21): | 208.88 | |
| Williams %R (14): | -43.78 | |
| Chande Momentum Oscillator (20): | 0.90 | |
| Repulse (5,40,3): | -0.1200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 1.31 |
| MA7: | 204.31 | |
| MA20: | 194.88 | |
| MA50: | 185.81 | |
| MA100: | 175.49 | |
| MAexp7: | 208.32 | |
| MAexp20: | 207.39 | |
| MAexp50: | 204.03 | |
| MAexp100: | 199.29 | |
| Price / MA7: | +1.80% | |
| Price / MA20: | +6.73% | |
| Price / MA50: | +11.94% | |
| Price / MA100: | +18.52% | |
| Price / MAexp7: | -0.16% | |
| Price / MAexp20: | +0.29% | |
| Price / MAexp50: | +1.94% | |
| Price / MAexp100: | +4.37% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on WASTE MANAGEMENT INC.. At the time of publication of this analysis, the latest news was as follows:
- Ridgewood Infrastructure Extends its Leadership Position in the U.S. Water Sector with the Acquisition of Waste Resources Management (WRM)
- Ridgewood Infrastructure Extends its Leadership Position in the U.S. Water Sector with the Acquisition of Waste Resources Management (WRM)
- Southwire 2022 Sustainability Report: Circularity & Waste Management
- MOCCAE and Tadweer Sign MoU to Launch Global Initiative to Decarbonize Waste Management and the Circular Economy Platform
- MOCCAE and Tadweer Sign MoU to Launch Global Initiative to Decarbonize Waste Management and the Circular Economy Platform
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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