The group, through its subsidiaries, provides collection, recycling, and disposal services to millions of residential, commercial, industrial, and municipal customers throughout the US and Canada.
With innovative infrastructure and capabilities in recycling, organics and renewable energy, Waste Management provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals.
Technically, an incomplete rising wedge pattern makes the share attractive as an investment opportunity (see the burgundy converging trendlines on the main chart as well as the insert). It is a topping pattern where the price eventually breaks down. The expectation is for the price to progress to the upper range of this pattern.
According to the RSI (Relative Strength Index), the stock will be overbought at ~$200. This classifies our profit target of $185 as realistic.
We suggest a low at-risk allocation for this trade.
Technical analysis
This story is from the January 2023 edition of Personal Finance.
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This story is from the January 2023 edition of Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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