WASTE CONNECTIONS INC (WCN) Stock Technical Analysis
NYSE:WCN - New York Stock Exchange, Inc. - CA94106B1013 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to WCN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WCN is showing a nice and steady performance.
Besides having an excellent technical rating, WCN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 197.81. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 195.68, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
168.18
We found 4 important support areas.
- A support zone ranging from 193.49 to 195.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 186.15 to 188.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 182.62 to 183.17. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 169.88 to 170.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 197.81 to 199.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for WCN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WCN is up. |
| ChartMill Relative Strength | 79.34 | POSITIVE | WCN has a high relative strength, it outperformed 79.34% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of WCN is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WCN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WCN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.3 | NEUTRAL | The RSI value for WCN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests WCN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.13 | OVERBOUGHT | The high Stochastics value suggests WCN may be overbought. |
| Average True Range in percent/ATR (20) | 1.59 | LOW VOLATILITY | The low ATR as a percentage value for WCN suggests low volalility. |
| Average Directional Index/ADX (14) | 10.59 | NEGATIVE | The low ADX value for WCN suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 199.97 | 193.48 | 6.49 (3.25%) | 25.00% |
| An entry @199.97. This is a Buy Stop order right above the resistance zone. | An exit @193.48. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 6.49 points, which is 3.25%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.81%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
196.31
-0.78 (-0.4%)