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Look for Shares of Waste Management to Potentially Pullback after Yesterday's 1.49% Rise

By Shiri Gupta

Waste Management (NYSE:WM) traded in a range yesterday that spanned from a low of $115.46 to a high of $117.79. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $116.46 on volume of 893,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Waste Management has traded in a range of $83.22 to $121.77 and is now at $117.32, 41% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

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

Keywords: rebounders Waste Management

Ticker(s): WM