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Waste Management Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Shares of Waste Management (NYSE:WM) traded at a new 52-week high today of $64.94. Approximately 275,000 shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.

Over the past year, Waste Management has traded in a range of $45.86 to $64.94 and is now at $64.92, 42% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Based on a current price of $64.92, Waste Management is currently 8.3% above its average consensus analyst price target of $59.50. Waste Management shares have support at the 50-day moving average (MA) of $57.92 and additional support at the 200-day MA of $53.67.

Waste Management, Inc. provides waste management services including collection, transfer, recycling, resource recovery and disposal services, and operates waste-to-energy facilities. The Company serves municipal, commercial, industrial, and residential customers throughout North America.

SmarTrend recommended that subscribers consider buying shares of Waste Management on April 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.47. Since that recommendation, shares of Waste Management have risen 9.8%. We continue to monitor WM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Waste Management

Ticker(s): WM