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SmarTrend Watching for Potential Rebound in Shares of Waste Management After 1.96% Loss

By James Quinn

Waste Management (NYSE:WM) traded in a range yesterday that spanned from a low of $97.02 to a high of $100.29. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $97.92 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Waste Management have traded between a low of $85.50 and a high of $126.79 and are now at $97.68, which is 14% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend is tracking the current trend status for Waste Management and will alert subscribers who have WM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Waste Management

Ticker(s): WM