11/3/2022 NYSE (WM)Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $151.97
Target Price: $154.43
Stop Loss: $147.86
WMI trade ideas
Would you buy garbage (WM)?Waste Management NYSE:WM is one of my favorite stocks because I was once asked, when I said I was a professional technical trader, "if the price of garbage was going up, you would buy it?" To which I replied, "yes, I own Waste Management"
This morning I received a volatility spike alert which is happening at a major 50% Retracement.
Added to my position that began back in March of 2020 when the world was ending.
Trading Patterns That Repeat (Video)I wanted to make a companion explanation video for my idea that I just posted comparing the Daily Stock Market Indexes to the 30 minute timeframe on Waste Management. Both are setting up the same pattern across different instruments and timeframes.
Weekly Strategy Support and Resistance for Stocks, Crypto, MoreTime to draw out the key levels of the S&P 500, Nasdaq, Bitcoin, Ethereum, Oil, Gold, and the VIX to find out trading strategy for the week to come!
WM oversold based on price to operative cash flow5Y P/E 27.71 - Now P/E 29.87.
Adjusted Earnings Growth of 7.96% with div @ 1.57%
More attractive equity based on OCF
5Y Norm P/OCF = 13.59
Now P/OCF ~14
Adj growth OCF = 6.67%
WM has a pretty wide moat.
Earnings watch 2/2 pre-marketEarnings watch 2/2 pre-market:
WM
MPC
ABBV
DHI
TMO
DT
HUM
JCI
CPRI
BSX
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
WMBack to a previous resistance level. Will it hold and act as support? One of the strongest/most consistent charts out there imo. Watching.
WM is one to keep an eye on!* Great earnings
* Very strong up trend
* High 3-month relative strength of 2.55 in the Industrial sector
* Pays out dividends
* Has been in a tight range of ~3.94% for the past 5 to 6 weeks
* Held up incredibly well during this time of market uncertainty
Trade Idea:
* There are a few plays you can do here since the 4% stop is quite a distance away:
1) Enter now if you can stomach a little volatility
2) You can look for a buying opportunity once it has broken and closed above $166.23
3) You can wait for a discounted entry near the $164.22 area
4) You can wait for a bounce from the $161.24 area.
Any thing below $161.24 would negate this idea.
WMNew highs. I called this out novemeber 11th a we were breaking key reisatnce of 160.40s. I went long on 170 calls and 165 calls. We made a new high today as we have slowly been headed to my first target of 174s. As of now flipping our previous high of 163.83 into support. Looking excellent in my veiws
WMTrying to push through this key resiatnce. Target 172 watch old high as well but if we pop 162 should catch some momentum
WM showing signs to go higher* Great earnings year over year
* Very strong up trend
* Breaking out of a 6 week consolidation with higher than average volume ... roughly 37% higher
* Broke resistance and retested it as support
* Offering a pocket pivot breakout indicating that institutions are stepping in
* Pays out dividends
Trade Idea:
* Now is the best time to get in as the price is still close to the breakout level and it's showing signs that institutions may be stepping in to buy
* If you're looking for a slight discount you can look for an entry near the 156.60 area
* A break below 156.60 would expose 154.26 as the next possible support.
Note:
* Given it's growth over the years and the fact that it pays out dividends, WM is also a great long term hold for your investment portfolio.
Waste Management WM Looking at this through October.Might even go longer to try and survive most of hurricane season with this one. its been steadily moving up. This and HOME Depot are going to be beast mode through this part of the year.
by iCantw84it
07.20.2021
Bullish WMGood potential for breakout on both arrows, first break will trigger short covering
Second break to the far left will trigger even more shorts losing money due to highs being broken, may be start of an uptrend.
WM Flag BreakoutNYSE:WM had a beautiful gap up today which broke out of the months long flag pattern. It looks very healthy and I expect it to continue up to all new highs.
WM LongWM appears to be making its first attempt to break out of this consolidative wedgish formation
Cup and Handle Rising WedgeI own this in my IRA and just placed a stop due to the rising wedge that is forming. I like to keep the securities in my IRA long term so as a rule I do not place stops unless I see I am possibly in trouble.
Rising wedges can be bearish if the bottom trendline is broken. They occur due to lack of healthy pull backs and interrupt supply and demand. The trendlines both slope up and converge at the apex. This is a long term pattern, but a terminal pattern after bottom trendline is broken.
Cup and handle targets are calculated using the cup high (125.56) minus the cup low (109.11) then taking this number, applying fib levels, and adding it to the cup break out of 125.89. I usually add 10 cents or so to the cup high to assure price gets above the resistance of the cup high. On this security, the reason the long entry level is 125.89, is due to the prior cup that never reached long entry level. So it is really break out level for the 1st cup, but obviously there is resistance at that level. WM fell quite a ways from the first rising wedge (RW) and I am hoping it does not fall as far if the trendline is broken.
I use the .382, .618 and .786 fib levels to calculate targets 1. Everyone does this differently.
Not a recommendation. Long after fall from rising wedge is complete and security has recovered. The handle low may provide support. Mid cup can also provide support. Take the cup high and subtract the cup low, then divide by 2. (o:
Tradeview has this one as a strong buy, so maybe I am seeing things (o: Sometimes we see things that are not there, and sometimes we see what we want to see. But I did not want to see that rising wedge (o: I think it will be a great buy, just not sure about now is all.
WMSort of ironic that the most bullish chart I'm seeing is...trash. Pretty much sums up the market. ATH close today and going higher.
