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Watch for Waste Management to Potentially Pullback After Gaining 2.74% Yesterday

By James Quinn

Waste Management (NYSE:WM) traded in a range yesterday that spanned from a low of $99.22 to a high of $99.85. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $99.84 on volume of 662,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Waste Management have traded between a low of $85.34 and a high of $126.79 and are now at $100.80, which is 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 0.4%.

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