WASTE MANAGEMENT INC (WM) Stock Technical Analysis
NYSE:WM • US94106L1098
Overall WM gets a technical rating of 8 out of 10. Although WM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- WM is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month WM has a been trading in the 220.66 - 244.61 range, which is quite wide. It is currently trading near the high of this range.
- WM has an average volume of 2141690 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, WM outperforms 61% of them, which is more or less in line with the market.
- WM is an average performer in the Commercial Services & Supplies industry, it outperforms 66% of 81 stocks in the same industry.
Although WM has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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198.54
4 important support areas can be observed.
- Support @242.10 from a horizontal line in the daily time frame.
- A support zone ranging from 223.39 to 233.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 213.57 to 215.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @200.55 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 243.08 to 243.08. 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 WM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WM is up. |
| ChartMill Relative Strength | 61.95 | NEUTRAL | WM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.42 | OVERBOUGHT | The high RSI value suggests WM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.64 | POSITIVE | The MACD value suggests WM has a positive trend. |
| Stochastics (14,3) | 84.48 | OVERBOUGHT | The high Stochastics value suggests WM may be overbought. |
| Average True Range in percent/ATR (20) | 2.02 | MEDIUM VOLATILITY | The ATR as a percentage value for WM suggests some volalility. |
| Average Directional Index/ADX (14) | 24.57 | NEUTRAL | The ADX value for WM suggests a possible start of a new trend. |
243.07
+2.23 (+0.93%)
WASTE MANAGEMENT INC / WM FAQ
What is the technical rating for WM stock?
ChartMill assigns a technical rating of 8 / 10 to WM.
What is the trend direction for WM stock?
The current trend direction for WASTE MANAGEMENT INC (WM) is Bullish.
Can you provide the RSI signal for WASTE MANAGEMENT INC?
WASTE MANAGEMENT INC (WM) has an RSI value of 70.4209. This indicates that the stock is currently overbought.
Can you provide the MACD signal for WASTE MANAGEMENT INC?
The MACD indicator for WASTE MANAGEMENT INC (WM) has a value of 0.635185, indicating a bearish trend.
What is the support and resistance level for WM stock?
WASTE MANAGEMENT INC (WM) has a support level at 242.1 and a resistance level at 243.08. Check the full technical report for our detailed analysis of WM support and resistance levels.