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

By Nick Russo

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, Waste Management share prices have been bracketed by a low of $85.50 and a high of $126.79 and are now at $97.68, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

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