Traders officially love to buy WM around 89.69 level


Waste Management Inc. (WM) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

Traders officially love to buy WM around 89.69 level
WM closes below its opening price unable to hold early session gains
WM stuck within tight trading range
WM closes within previous day's range
WM ends the day indecisive

Overview

WM finished the week 0.42% higher at 89.94 after losing $0.20 (-0.22%) today. Trading $0.30 higher after the open, Waste Management was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (WM as at Aug 10, 2018):

Daily technical analysis candlestick chart for Waste Management Inc. (WM) as at Aug 10, 2018

Friday's trading range was $0.76 (0.84%), that's slightly below last trading month's daily average range of $1.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 89.69 and 90.62 which it has been in now for the last three days.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

The market was bought again around 89.69 after having seen lows at 89.79, 89.77 and 89.67 in the last three trading sessions. Obviously there is something going on at that level.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying could speed up should prices move above the close-by swing high at 90.62 where further buy stops might get activated.


Market Conditions for WM as at Aug 10, 2018

Loading Market Conditions for WM (Waste Management Inc.)...
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WM stuck within tight trading range

Oct 19, 2018
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