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Possible Bullish Inside Day Candle Pattern Detected for Waste Connections (NYSE:WCN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Waste Connections (NYSE:WCN) based on the price action in the company's shares. Today's price range of $74.31 and $75.34 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Waste Connections may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Waste Connections (NYSE:WCN) is currently priced 22.3% above its average consensus analyst price target of $58.30. The stock should discover initial support at its 50-day moving average (MA) of $64.67 and subsequent support at its 200-day MA of $55.96.

Waste Connections, Inc. provides solid waste collection, transfer, disposal, and recycling services in secondary markets of the western United States. The Company owns and operates collection facilities, transfer stations, landfills, and recycling facilities.

Waste Connections share prices have moved between a 52-week high of $79.71 and a 52-week low of $45.70 and are now trading 64% above that low price at $75.05 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.8%.

SmarTrend is monitoring the recent change of momentum in Waste Connections. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Waste Connections in search of a potential trend change.

Keywords: bullish inside day candle waste connections

Ticker(s): WCN