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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%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
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Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place. and are not for trading purposes or advice.
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