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WM

Trading Patterns That RepeatLast week's price action of the stock market gave a textbook example of one of my favorite and fundamental trading patterns; that of the false breakout reversal. On the longer term Daily timeframe both the Nasdaq and S&P 500 setup this pattern with the February 24, 2022 spike to break but then recapture the January 24, 2022 low. We do not have to wait to see how this might play out. My trade on Waste Management NYSE:WM was based on this exact pattern and as of today it has reached the 3-to-1 target. It is fascinating and very profitable to accept and recognize that these patterns can and do appear on all timeframes and on all instruments.
NASDAQ:QQQLong
by norok
4
Waste Management Bullrun | Current LevelsWaste Management in a steady bull run since the crash in March. These levels will hold strong moving forward. ~ The stock currently sits above what has proven to be strong support @ $113 which could offer as a decent entry point considering our next support is at $107. Watching the orange trend line as support as well, it holds strong on the weekly timeframe . Possible long on a break and hold of resistance @ $120. Upside targets: $126 Possible Short Entry pn break and hold below $107 Caution needed with this stock as it continues its push up. Seems like it's due for a correction in a few months. DotcomJack | Michael Jordan of Stonks
NYSE:WM
by DotcomJack
1
WM: Major Resistance Breakthrough Analysis 4H (Apr. 28)X FORCE GLOBAL ANALYSIS: Waste Management (WM) is the leading provider of comprehensive waste management in North America, providing services that range from collection and disposal to recycling and renewable energy generation. In this analysis, we look at Waste Mangement's technical to spot a potential bullish breakout Technical Analysis - The first thing we can spot from this chart is a bullish ascending triangle. - Prior to this pattern, we saw a bullish divergence, with prices forming lower lows, and the Relative Strength Index (RSI) forming higher lows - Prices consolidate within the pattern for a bullish reversal, forming higher lows. - This demonstrates that bulls have more strength in pushing prices, while bears merely maintain resistance - We have broken through one major descending trend line resistance with a gap. - There is, however, another descending trend line resistance that needs to be broken, in order to confirm a breakout - We have broken through the ichimoku cloud resistance - The 20 Simple Moving Average (SMA) is a good reference of short term trends in this case. - We have broken through, and are trading above the 20 SMA - The Moving Average Convergence Divergence (MACD) shows an uptrend of moving averages, and weak bearish momentum demonstrated by a quickly negated death cross. What We Believe Prior to the drop caused by the Corona Virus (COVID-19) crisis, Waste Management has been on a historic bull-run on the monthly. Given its price history, we believe that a potential breakout could mark the beginning of a bullish trend reversal. Trade Safe.
NYSE:WMLong
by XForceGlobal
Staples of modern civilzation ($WM)In my last article I lamented my folly of inadvertently buying when CNBC said to do so. Earlier this week I caught a clip of Dave Ramsey, a radio financial advice personality, telling people that they were stupid to not be buying to stock market right now when it was "cheap." Again, we had more downside to go. When you've been trading for a few years you eventually realize that literally everyone, including yourself, has to realize the point of "peak FUD" before the market turns around. There has been far too much optimism following this selloff. "It's just the flu", "the economy is still strong," etc. are just not things you would hear at the tippy-bottom. That being said I still need to be wisely allocating capital in this rare event. Some Weekly timeframe alerts I've set over the past month before the crash have been dinging to my attention this morning that I'm keen to buy. NYSE:NOC and NYSE:WM are two stocks I've been watching and waiting for an opportunity for a long time. NYSE:WM more than others. Weapons and Garbage are staples of civilization... just as much if not moreso than toilet paper (which everyone seems to be inexplicably bullish on).
NYSE:WMLong
by norok
2
Staples of modern civilzation ($NOC)In my last article I lamented my folly of inadvertently buying when CNBC said to do so. Earlier this week I caught a clip of Dave Ramsey, a radio financial advice personality, telling people that they were stupid to not be buying to stock market right now when it was "cheap." Again, we had more downside to go. When you've been trading for a few years you eventually realize that literally everyone, including yourself, has to realize the point of "peak FUD" before the market turns around. There has been far too much optimism following this selloff. "It's just the flu", "the economy is still strong," etc. are just not things you would hear at the tippy-bottom. That being said I still need to be wisely allocating capital in this rare event. Some Weekly timeframe alerts I've set over the past month before the crash have been dinging to my attention this morning that I'm keen to buy. NYSE:NOC and NYSE:WM are two stocks I've been watching and waiting for an opportunity for a long time. NYSE:WM more than others. Weapons and Garbage are staples of civilization... just as much if not moreso than toilet paper (which everyone seems to be inexplicably bullish on).
NYSE:NOCLong
by norok