Waste Management, Inc. is an American waste management and environmental services company based out of Houston. It has the largest trucking fleet in the waste management industry. The company serves about 21 million residential, industrial, commercial, and municipal customers across the US and Canada. The population growth rate, increasing urbanization, and Waste Management’s dominant market position are primary drivers of its stock’s longer term prospects.
The 10-year monthly chart of WM demonstrates a 7-year uptrend that the stock has been in. It hit an all-time high of $126 in February before crashing more than 32% to go below the long-term trend line in March 2020. Since then, the stock has moved up 12.5% and is currently above the bottom of the long term trend.
There seems to be no resistance till the 120 level and the stock is then poised to go as far as 129 which is the top of the long-term trend.
Positions taken at entry point $100.97 Stop loss at $85.02 16% below. Short term profits could be taken at $130 yielding a profit of 29%.